Vodafone Group Plc could have the capacity to spend $30 billion to $40 billion on acquisitions in coming years and no deal should be too big if it makes strategic sense, Chief Executive Vittorio Colao said on Monday.Colao told reporters he was exploring possibilities for a potential shopping spree on big acquisitions on top of investments in Vodafone's existing business after a $130 billion windfall it will get from an asset sale to Verizon Communications later this month."We are looking at acquisitions that are sizeable and could transform the company," said the executive at a media roundtable in New York where he laid out his strategy for the world's second-largest mobile operator."The theory is that if an acquisition makes sense you should not be worried by the size because shareholders should approve it," he added.
Vodafone Group Plc (Vodafone) is a mobile communications company. Shares of VOD fell by 0.9% or $-0.33/share to $36.25. In the past year, the shares have traded as low as $24.42 and as high as $39.44. On average, 9199240 shares of VOD exchange hands on a given day and today's volume is recorded at 9870423.
Verizon Communications Inc. (Verizon) is a holding company. Shares of VZ traded higher by 0.21% or $0.1/share to $46.91. In the past year, the shares have traded as low as $44.11 and as high as $54.31. On average, 13819400 shares of VZ exchange hands on a given day and today's volume is recorded at 12394208.
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