LONDON (Thomson Financial) - The telecoms regulator on Thursday fined the Greek unit of UK mobile giant Vodafone 19.1 mln eur for violating network regulations in a wire-tapping scandal that rocked the country last year.

The fine is the second handed to Vodafone Hellas over the case after a 76 mln eur penalty levelled by Greece's communication privacy watchdog last December.

Some 100 Vodafone cellphones in February 2006 were found to have been compromised by an illicit network that tapped sets used by Greek Premier Costas Karamanlis, his wife and several ministers from June 2004 to March 2005.

The tapping used software slipped into Vodafone's network by unknown perpetrators to illegally activate an Ericsson-made module permitting call interception.

On Thursday, the national telecommunications regulator EETT accused Vodafone of breaching regulations on the protection of telecommunications privacy, network maintenance and quality, and consumer protection.

The company rejected last December's fine as 'illegal, unfair and baseless.'

A Greek parliament committee collecting evidence on the case last November noted the involvement of three employees of telecoms giants Ericsson Hellas and Vodafone Greece, identified only by their initials.

'The whole system could not operate without Ericsson know-how and without access from within (Vodafone),' the report said.

The Greek branch of Swedish telecom equipment giant Ericsson has also been fined 7.36 mln eur over the case.

The parliamentary committee did not rule out the involvement of other people operating outside Greece.

The Greek justice department has opened an investigation into the case but nobody has yet been charged.

Days before the affair came to light, a senior Vodafone expert was found hanged inside his home.

The death of Costas Tsalikidis, manager of Vodafone Greece's network planning section, was linked to the case and his family suspects he was murdered.

am I reading correctly - approx £1 per share cash but a 10 new to 19 old consolidation i.e. about £1.20.With the loss of future Verizon divi payments to VOD shareholders the deal seems to have little attraction?

holding VOD depends on the market value of Verizon towards the end of February 2014, crystal ball needed!

Isn't the potential problem that Verizon is US-based ( confirmation, pse ), and so UK investors have to return to HMRC "Foreign Holdings" ( where these are outside an ISA, naturally ).

In parallel with that there is "Currency-risk", too.

banked my small profit here this morning

I manage my husbands sipp, which I vested 3 years ago and I hate these deviations which crop up from time to time. Purely on charting, I have just sold all his vod for 20% profit, I am always happy to add a bit of profit here and there. I couldn`t make head or tale of any of it, except that it sounded complicated and I don`t want to be in us$ (lol, 1st post in a good 3 years)

Taken from the telegraph
"Vodafone is one of the biggest-dividend-paying companies in the FTSE 100 and it looks all but guaranteed to complete the sale of its most profitable and cash generative asset, Verizon Wireless, next year.

The chunky circular detailing the deal, by which shareholders will benefit to the tune of 112p per share in a mix of cash and shares, will arrive about now.

Because of the structure of the transaction investors who take no action will end up receiving cash and holding shares in US telecoms giant Verizon.

It is therefore essential investors fill in the “Dealing Form” in which they can choose to sell the Verizon shares and receive cash.

The benefits, in terms of the cash Vodafone will receive from the sale, are already in the share price, raising the question: should investors sell out now, or is there more to come? The most important issue concerns the income. Many bought Vodafone not for share price gains but for the inflation-busting dividend that offered a yield of 6pc just 12 months ago"

a good explanation maggie, phew right decision then, already spent on different stocks

Quietly making new highs @236.20p

Verizon: The Short-Term Impact Of The Verizon Wireless Acquisition

Just sold mine , will now wait for the dust to settle after the Verizon deal goes through before thinking of getting back in.

Holding tight..

240p gone..

RNS Verizon Comms earnings up Verizon Wireless described as the best asset in the wireless industry. Next few weeks to decide whether to hold or sell.

Yes - I used to be undecided - now I'm not so sure!

Verizon posts higher quarterly revenue

(Reuters) - Verizon Communications Inc said on Tuesday its quarterly revenue rose 3.4 percent as it added more wireless subscribers than expected at its Verizon Wireless venture with Vodafone Group Plc.

Verizon reported fourth-quarter earnings of $1.76 (1.07 pounds) per share, compared with a loss of $1.48 per share in the year-ago quarter, including pension-related charges in both quarters. Revenue rose to $31.1 billion.

It's what will happen to Verizon shares when UK institutions / shareholders sell them on mass that persuaded me.

Sterling/USD another consideration but I do reckon VOD are a well run company and will look to get back in after the deal goes go through.

My local broker (via their newsletter) reckons that Vodafone are more likely to be the predator than the prey, once this deal goes through, and are suggesting that VOD may be looking hard at either TalkTalk or BskyB as possible UK targets. They think that the current strength in the VOD sp is partly due to investors hoping for a bid, which they think is unlikely.

Maybe of interest :- Verizon: A Long-Term Investment Opportunity With An Initial Dividend Yield Of 4.44%

Closed my S/Bs today +31, +34.

Still hold the shares.......

skin do you prefer Vodaphone shares or Verizon or perhaps both?

Undecided as yet - I wanted to use the returned cash to buy NYSE:PJL (currently yielding @7.25%), but my provider won't play with me.