Vodafone bounces back

After a disappointing week, capped by a two month low yesterday, Vodafone has opened in top form this morning.

As of 9.30 GMT, the FTSE 100 giant was trading in the green by 2 per cent at 167.8 pence.

Stocks were sent tumbling on Thursday after it was revealed that subscriber numbers in its joint US venture Verizon Wireless were weaker than anticipated.

Additional pressure was placed on the stock amid speculation that Spanish Bank SCH is considering the sale of its 1.6 per cent stake in the UK company.

Yesterday, trading volume of Vodafone shares hit 750 million, which is about double the normal average amount.

However, reports this morning dismissed suggestions that talks are underway, sending Vodafone shares into the green.

Read more on Vodafone, including silicon.com's view of last year's mobile market:
Mobile phone theft: The operators fight back
http://www.silicon.com/a50307
Phone crime - playing the blame game
http://www.silicon.com/a50266
Re:Viewing 2001: Mobile operators must open their minds
http://www.silicon.com/a50069
Vodafone mulls Arcor sale
http://www.silicon.com/a50128

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