Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, November 19, 2014

Vodafone says open to more asset sales, (NYSE: MS)

Vodafone would be open to selling off more non-core assets such as its interests in Australia, Hungary and the Czech Republic if it received the right offer, Chief Executive Vittorio Colao said on Wednesday. The world's second-largest mobile operator by user numbers behind China Mobile, could also consider acquiring exclusive media content to attract customers as part of its move to become a full service telecoms provider. However, it is not convinced of the need for such expensive content rights yet.The different options are being considered as Colao continues his drive to restructure the group from a sprawling pure-play mobile operator to a smaller firm that can also offer fixed line broadband and television services."We constantly check with possible parties interested in some of our less core assets," Colao told the annual Morgan Stanley Technology, Media and Telecoms Conference in Barcelona, in response to a question about the three markets."We would consider sales but we are not distressed sellers so therefore we must sell at full value. Otherwise we keep them and manage the cash."

Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 0.06% or $0.02/share to $35.49. In the past year, the shares have traded as low as $28.31 and as high as $36.44. On average, 9958410 shares of MS exchange hands on a given day and today's volume is recorded at 2880273.