UK’sĀ VodafoneĀ Group mentioned on Friday it intends to launch extra share buy-back programmes over the following eight months to partially offset the rise within the firm’s issued share capital as a result of maturing of a convertible bond programme.
The cellular and broadband operator, which has roped in Goldman Sachs as principal of the programme, mentioned the buy-backs will begin on July 26 and finish by Nov. 17.
VodafoneĀ reported a better-than-expected rise in first-quarter service income as extra shops reopened and tourism made a tentative return following final yr’s COVID-19 disruption.
The British firm had mentioned in May free money movement would enhance to at the least 5.2 billion euros ($6.12 billion) this yr, after it met its goal of “at least” 5 billion euros within the yr to end-March.
