Vodafone mulls share buyback

16 Sep 2003

Arun Sarin, the new chief executive of UK-based mobile operator Vodafone [VOD.L], has said that his board will meet in November to discuss the possibility of buying back its own shares. Analysts have interpreted the news as a sign that the operator’s management feels its shares are undervalued. Mr Sarin also reiterated his company’s commitment to investing heavily in third-generation (3G) services and said he expected Vodafone to win market share away from its rivals who failed to follow its lead.

United Kingdom