Vodafone Plans To Launch Additional Share Buy-Back Programmes This Month: Report

UK's Vodafone Group stated on Friday it intends to launch further share buy-back programmes over the subsequent eight months to partially offset the rise within the firm's issued share capital attributable to maturing of a convertible bond programme.

The cell and broadband operator, which has roped in Goldman Sachs as principal of the programme, stated the buy-backs will begin on July 26 and finish by Nov. 17.

Vodafone reported a better-than-expected rise in first-quarter service income as extra shops reopened and tourism made a tentative return following final 12 months's COVID-19 disruption.

The British firm had stated in May free money stream would enhance to not less than 5.2 billion euros ($6.12 billion) this 12 months, after it met its goal of "at least" 5 billion euros within the 12 months to end-March.