Vodafone plans to launch additional share buy-back programmes this month
1 min read . Updated: 24 Jul 2021, 01:54 PM IST
PremiumVodafone said the buy-backs will start on July 26 and end by November 17
UK's Vodafone Group said on Friday it intends to launch additional share buy-back programmes over the next eight months to partially offset the increase in the company's issued share capital due to maturing of a convertible bond programme.
The mobile and broadband operator, which has roped in Goldman Sachs as principal of the programme, said the buy-backs will start on July 26 and end by Nov. 17.
Earlier in the day, Vodafone reported a better-than-expected rise in first-quarter service revenue as more stores reopened and tourism made a tentative return following last year's COVID-19 disruption.
The British company had said in May free cash flow would increase to at least 5.2 billion euros ($6.12 billion) this year, after it met its target of "at least" 5 billion euros in the year to end-March.
This story has been published from a wire agency feed without modifications to the text.
