London, Jan 14, 2026, 09:32 GMT — Regular session
- Vodafone shares slipped slightly in early London trading, following a steep fall on Tuesday
- The company announced another day of share repurchases as part of its ongoing buyback programme
- Investors are eyeing Vodafone’s trading update on Feb. 5 as the next key catalyst
Vodafone Group shares (VOD.L) slipped on Wednesday following the announcement of yet another buyback program. By 0932 GMT, the stock had fallen roughly 0.4% to 98.3 pence, after dropping 2.6% the previous day.
This matters because Vodafone’s buyback now stands as the primary near-term support for the stock, with investors hanging tight for new trading cues. Aside from that, the company calendar is pretty quiet until early February.
During that stretch, the tape was mostly pushed by routine repurchase filings and traders adjusting positions after last week’s volatility. Vodafone has come to resemble a “flow” stock rather than one grabbing headlines—at least for the moment.
Vodafone repurchased 5,242,866 shares on Jan 13 via Merrill Lynch International at a volume-weighted average price of 99.36 pence, with trades ranging from 98.30p to 101.25p — the average weighted by trade size. The company said it would hold these shares in treasury rather than cancel them, bringing its total treasury shares to about 1.43 billion. The day before, Vodafone bought 6,204,292 shares at an average of 101.46p on Jan 12.
Vodafone’s market cap stands near £23 billion, with its shares fluctuating between 62.40p and 104.15p over the last year, per LSE figures.
Broker chatter kept buzzing. UBS stuck with its “sell” rating on Vodafone Tuesday but nudged up the target price to 82 pence from 80, according to a dpa-AFX note cited by MarketScreener. MarketScreener
Now, all eyes turn to the upcoming figures. Investors are keen for an update on free cash flow — the cash remaining after capital expenditures — and how it aligns with the buyback pace.
Vodafone operates in a sector where shifts in rate forecasts and competition talk can swiftly change the market mood. BT and Orange face their own challenges with investment and pricing, keeping the threshold for “steady” quite demanding.
But if operating trends falter or spending climbs quicker than anticipated, buybacks won’t hold up as a support. A disappointing update would probably shift attention toward cash generation instead of financial engineering.
Vodafone’s next key event is its third-quarter fiscal 2026 trading update, set for Feb 5.
