Could the return to profitability by the world’s largest mobile phone company boost global telecom exchange traded funds (ETFs)?
Vodaphone (VOD) delivered a return to full-year profitability, but at the same time, CEO Arun Sarin announced his resignation. He had led the company’s expansion into emerging markets such as India, Turkey and the Czech Republic, reports Jane Wardell for the Associated Press.
Sarin will be replaced by his deputy, Vittorio Colao.
Vodaphone is a major component of several telecommunication and wireless ETFs. Can the new company leadership keep the company growing in the midst of an economic downturn?:
- iShares S&P Global Telecommunications (IXP): Vodaphone is 11.3%; down 8.7% year-to-date
- Wireless HOLDRs (WMH): Vodaphone is 9.7%; down 9.7% year-to-date
- WisdomTree International Communications (DGG): Vodaphone is 9.2%; down 8.1% year-to-date
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.