London, Feb 11, 2026, 09:21 GMT — Regular session.
Vodafone (VOD.L) edged up 0.7% to 112.30 pence just after the open in London on Wednesday, with the telecoms giant continuing its share buyback program, according to shareprices.com at 0909 GMT. 1
The buyback has taken on added significance as Vodafone continues to rely on cash returns amid efforts to steady its core European business. Chief Executive Margherita Della Valle said the group remains “on track to deliver at the upper end of our guidance range for both profit and cash flow.” Vodafone, for its part, noted it has wrapped up €3.5 billion in buybacks so far, and is pressing ahead with a fresh €500 million tranche. 2
On Wednesday morning, broker desks kept an eye on the stock. DZ Bank bumped up its fair value estimate for Vodafone, moving it to 130 pence from the previous 120 pence, while sticking with a “buy” rating, according to Alliance News. 3
Vodafone picked up 22.3 million shares on Feb. 10, paying an average of 113.18 pence each, with prices ranging from 112.30 to 114.75 pence. The shares, acquired from Goldman Sachs International, are headed for treasury, according to the company. 4
Vodafone snapped up 23.4 million shares at an average 112.70 pence apiece the previous day, according to its latest filing. That brings the tally to around 45.7 million shares across just two sessions, the company’s numbers show. 5
Vodafone’s buyback began in the wake of its third-quarter numbers last week, which showed group organic service revenue up 5.4%. Adjusted EBITDAaL, the company’s metric for core earnings post-leases, climbed 2.3%. Full-year guidance stayed put: adjusted EBITDAaL between €11.3 billion and €11.6 billion, and adjusted free cash flow still expected in the €2.4 billion to €2.6 billion range. 6
Yet the shares still carry the weight of a recovery bet, leaving space for letdowns. Last week, Vodafone’s CEO flagged Germany—crucial for the group—as “still competitive,” and investors are eyeing whether momentum sticks into the next quarter. 7
Vodafone heads into its FY26 results on May 12, with investors looking for details on cash flow, guidance, and how quickly capital returns are coming along. 8
