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David Einhorn Comments on Vodafone

October 16, 2013 | About:
Vodafone (NASDAQ:VOD) shares advanced from £.88 to £2.16. The highlight was the announced sale of its 45%minority interest in Verizon Wireless for $130 billion. Upon completion, VOD will be predominantly a European wireless carrier with a network and spectrum that leave it better positioned for growth than its peers. At 4.5x 2014 EBITDA, the VOD "stub" trades at a notablediscount to its sector and is a possible acquisition candidate.

From David Einhorn’s Greenlight Capital third quarter 2013 letter.

Rating: 2.0/5 (4 votes)


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