Vodafone suffered an eight per cent drop in its share price yesterday after analysts cast doubt on the company's ability to fulfil its earnings forecasts.
By Julian Goldsmith, 3 November 2000 11:22
NEWS Analysts at UBS Warburg said the cost of Vodafone's acquisition strategy would bring the company's earnings down by between 0.5 and 1.5 per cent. According reports, a consensus was developing amongst analysts that end of year earnings would reach upwards of £7.2bn, around £400m below previous expectations. The news sent the rest of the FTSE 100 index falling by 65.6 points.
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