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28 September 2015
Vodafone (VOD) may be the #3 UK 100 loser this morning, however, bulls may calling their brokers soon with the shares back down around that key 210p level which has proved both supportive and resistant since April 2014. News that US cable operator Liberty Global (LBTYA) has terminated talks over a proposed asset swap may dampen an attractive M&A element but the prospect of it being merely a delay and bump on the road to a deal may mean negativity is only short-term.
The telco giant could be in prime territory to benefit from a revival of talks and the recent bargaining hunting we have seen among fellow battered blue-chips. A recent bounce may have been scuppered by today’s news, however, the resulting weakness may simply offer another opportunity to dial in to the wave of consolidation that has been sweeping through the European television and communications sector in recent years. Stay tuned folks.
Mike van Dulken, Head of Research
This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.
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