Vodafone Group Plc (VOD · LSE)
Phone Bills, Fibre and Mobile Money
Vodafone sells mobile and broadband subscriptions to households and companies across Europe and Africa, and runs mobile money services used by tens of millions of Africans.
Bull case for Vodafone Group Plc
Africa arm grows far faster than Europe
Vodacom's African markets grow revenue at double-digit rates while European growth stays close to flat.
Mobile money adds a second revenue engine
M-Pesa and Vodafone Cash earn fees from payments, lending and savings, not just calls and data.
UK merger targets £700m of annual savings
Combining the Vodafone and Three networks aims to cut yearly cost and capital spending by £700 million.
Bear case for Vodafone Group Plc
Vodafone keeps losing broadband and mobile customers in Germany
Its largest market is shedding subscribers as rivals discount, leaving growth dependent on price rises.
Networks demand constant heavy investment
Spectrum licences, fibre and 5G upgrades absorb cash every year regardless of how trading goes.
Emerging-market currencies can erase reported growth
Fast African and Turkish growth in local money shrinks or vanishes once converted into euros.