LONDON, March 17, 2026, 17:06 GMT.
Vodafone finished Tuesday’s London session up 1.4% at 111.1 pence, after a new filing related to its buyback program landed with investors. Shares are still trading under the 52-week high of 120.9 pence.
It’s relevant now: Vodafone is shoring up its share price with buybacks and asset disposals, even as operations—Germany in particular—remain patchy. After Tuesday’s filing, treasury stock climbed to 1.7657 billion shares. The buyback plan runs through May 11 at the latest.
Britain’s scene changed once more on Tuesday as Ofcom unveiled rules for the fiber roll-out’s next leg. BT’s Openreach now has price caps on wholesale lines up to 80 megabits per second, opening things up for retailers like Vodafone. The cap previously sat at 40 megabits. Faster broadband tiers, though, remain outside the new regulation.
Vodafone snapped up 2 million ordinary shares via Goldman Sachs International on March 16, paying a volume-weighted average price of 110.29 pence. Trades came in between 109.6 and 111 pence per share. The purchased stock heads straight to treasury, where it waits for cancellation or possible employee awards. That move leaves 23.11 billion shares on the market, not counting treasury stock.
Vodafone’s buyback forms a slice of its ongoing 500 million euro programme, launched Feb. 5 and set to wrap up by May 11 at the latest. The company said it’s targeting a reduction in share capital, following 3.5 billion euros in buybacks since May 2024.
Asset disposals are still in play. On Feb. 18, the company struck a deal to offload its 50% interest in VodafoneZiggo to Liberty Global, pocketing 1 billion euros in cash and taking a 10% stake in the new Ziggo Group. CEO Margherita Della Valle called the transaction a move with “potential for further value creation.” Investegate
The operating outlook remains murky. Vodafone on Feb. 5 reported a 6.5% revenue bump for the third quarter and said full-year profit plus free cash flow — that’s what’s left after capex — should hit the upper range of guidance. Despite the upbeat numbers, shares tumbled over 5% on the day as analysts zeroed in on Germany’s sluggish recovery.
“Every quarter customer experience goes one step higher,” Della Valle said, speaking about Germany after the update. “The market remains competitive,” she added—making it clear the turnaround isn’t finished yet. Reuters
Morgan Stanley’s Emmet Kelly highlighted fresh trouble: Turkey’s service-revenue growth is now negative in euros, as the lira’s slide wipes out translation gains—despite strong growth in local currency.
Shareholders face a clear risk here: while buybacks might prop up the stock, they don’t address challenges in Germany or currency fluctuations. Vodafone’s next big moment lands with its FY26 results, scheduled for May 12, per the company’s shareholder calendar.
