Boston, MA 02/24/2014 (wallstreetpr) – Vodafone Group PLC (ADR) (NASDAQ:VOD) is thought to be in early stages of trying to increase its stake in Greek broadband provider Hellas Online SA. The company with its F2014 plans, intends to expand more into video and web services across Europe.
Vodafone Group PLC (ADR) (NASDAQ:VOD) stake in the company as of the moment stands at 18.5% with the majority of Hellas Online SA stake being held by Intracom Holdings SA (intrk). Vodafone after pooling out of the US market plans to expand its stake in emerging markets as a way of sourcing sources of revenue to compensate the loss of revenue from the US Market.
Vodafone Group PLC (ADR) (NASDAQ:VOD) plans to increase connections to its network by acquiring more broadband and cable companies across Europe as it tries to expand its wireless services. The Greek market has not been the best in the recent past with the company recording a slump of 13.4% in the last quarter an issue the company would wish to resolve with the new acquisition.
Vodafone completes the sale of its 45% in Verizon
It is official, Vodafone Group PLC (ADR) (NASDAQ:VOD) has complete its $130 billion sale of its 45% stake in Verizon wireless with the company expecting to flood shareholders with $82.5 billion in cash as a result. Part of the funds from the sale will be used in reducing the company’s debt and increasing the company’s Newbury England based flexibility.
Vodafone Group PLC (ADR) (NASDAQ:VOD) is also thought to have approached Spain’s largest cable provider Grupo Corporativo ONO SA about a possible takeover. The company has recently been focusing on Europe acquisitions as it continues to see its future in the European markets. The company had just recently outbid John Malone’s Liberty for the acquisition of Kabel Deutschland Holding AIG, a German cable company.
Vodafone Group PLC (ADR) (NASDAQ:VOD) shares closed the week on Friday by moving up by 0.67% to close the day at $39 a share.