Shares of telecommunications companies rose as investors sought out defensive sectors.
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)