Vodafone sheds £5.7 billion from May high as VodafoneThree debt pressure grows
Vodafone shares traded down 0.14% at 106.25 pence by late morning in London on Wednesday. The stock is about 19% off its May 21 high of 131.10 pence. Based on 23.03 billion shares now outstanding, the decline has erased around £5.7 billion in market value—about £1.4 billion more than CK Hutchison’s £4.3 billion VodafoneThree stake. That doesn’t mean the deal drove the entire slide. It shows how much extra discount investors have priced in since the high. The stock is still 38.7% higher over the past year, far outpacing the UK blue-chip index’s 19.6%. But consensus numbers as of June 23 show a median 12-month target at 112.06 pence, just about 5% over the latest price. Analyst targets range from