Shares of telecommunications companies rose as investors sought out defensive sectors.
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Among global telecom giants, Britain's Vodafone may be better placed than former partner Verizon Communications. Since Vodafone sold its 45% Verizon Wireless stake to Verizon in 2014, "the two Telcos' paths have diverged," according to Morgan Stanley analysts. While Vodafone has expanded cable and fixed-line holdings, "Verizon has continued to sell fixed-line properties, instead focusing on wireless, video and buying internet assets (AOL, Yahoo etc)," the analysts said. Vodafone also has a presence in a more diverse mix of international markets and less leverage on its balance sheet, according to the analysts.
-By Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
September 22, 2017 17:28 ET (21:28 GMT)