Vodafone investors issue restructuring ultimatum

Vodafone has found itself under
pressure from powerful investor groups to undergo an extensive restructuring
or break up its mobile phone empire.

The FTSE 100 corporate
said that it had received a letter from a company called Efficient
Capital Structures listing a number of issues that investors want addressed.
These include Vodafone considering ‘potential restructuring options’ and
increasing the amount of debt on its balance sheet to return more cash to

ECS, believed to have Glenn Cooper (the investment banker at the forefront of
Manchester United’s float in 1991) in its ranks, wants its concerns tabled as
resolutions at Vodafone’s upcoming AGM on July
24, The Guardian reported.  

The mobile phone giant said: ‘Vodafone will be reviewing the contents of this
letter and will be making a further announcement in due course.’

Further reading:

Vodafone announces £3.5bn impairment hit

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