Frontrunning A Whale: Part Two

In the UK companies have to post every night how many shares they repurchase. According to Vodafone they have bought 157 million pounds worth of of their own stock since last Monday. The pace is about 100 million pounds a week. However there are only about 25 weeks left in the year. At this pace they will only purchase 2.7 billion pounds worth of shares by year end. They gave Deutsche Bank "irrevocable orders" to purchase 4 billion pounds worth of stock by year end. They will have to significantly pick up the pace in order to reach their goals.

Vodafone's share of Verizon Wireless' cash flow is as much as $5.5 billion a year, according to statements made by the CEO. This is not included in their cash flow statement but might be soon if Verizon starts paying dividends. That would give them a well into double digit free cash flow yield and they are aggressively returning cash to shareholders.

Please note: A correction to this post has been posted

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