The telecoms major has been trying to simplify its business but the group’s returns remain disappointing
Vodafone is 30 years old but the high point for its shareholders, remarkably, came 20 years ago – in the days when mobile phones were new and exciting. The group had just completed its daring and record-breaking acquisition of German group Mannesmann. Its share price hit 400p and the UK seemed to have a global success on its hands.
Since then, Vodafone’s tale has been one of many more rounds of deal-making, but mostly to try to keep up with a telecoms industry where investment demands only seem to get bigger, especially when fast-fibre comes along to complicate the fixed line-versus-mobile balance.
