Vodafone: share buyback program ahead

(CercleFinance.com) - Vodafone announced on Friday that it will launch a new share buyback program by the end of the month to limit the dilutive effect of repaying a convertible bond in shares.


The British mobile phone giant said it plans to issue 1.4 billion shares at a conversion price of 120.55 pence to meet the maturity of a first tranche of the bond this month.

Vodafone added that it will soon announce details of its new asset repurchase program, due to start on 22 March.

Vodafone shares were down 0.7% in London on Friday morning.


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