Vodafone: new buy-back program to avoid dilution.
(CercleFinance.com) - Vodafone has launched a new share buy-back program in order to avoid any change in its share capital following the maturing of the first tranche of a convertible bond.
The maximum amount allocated to the programme is 1.5 billion pounds (around 1.6 billion euros), the British mobile operator said, as the amount equivalent to issuing the first tranche of the bond will be 1.44 billion pounds.
The programme will be funded by the proceeds from the 2.5 billion dollars that Vodafone received in cash in late 2016 as partial consideration for the sale of its 45% stake in Verizon Wireless in 2014.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The maximum amount allocated to the programme is 1.5 billion pounds (around 1.6 billion euros), the British mobile operator said, as the amount equivalent to issuing the first tranche of the bond will be 1.44 billion pounds.
The programme will be funded by the proceeds from the 2.5 billion dollars that Vodafone received in cash in late 2016 as partial consideration for the sale of its 45% stake in Verizon Wireless in 2014.
Copyright (c) 2017 CercleFinance.com. All rights reserved.