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Three Quick Facts: Vodafone, Fusion Antibodies and Bigblu Broadband


Three things you need to know in the financial markets today from investment writer, Tony Cross.

#1. Vodafone CEO departs

Vodafone [LON:VOD] has this morning announced the departure of its CEO Nick Read. Whilst not with immediate effect, Mr Read’s tenure will only run to the end of the year and he will remain available as an adviser until the end of March. The news comes after a torrid run for the Vodafone share price which now sits at levels not seen in 20 years.

#2. Fusion Antibodies’ half year results show room for improvement

Fusion Antibodies [LON:FAB] has a half year report out today, which may cause some concern amongst investors. Revenues came in at £1.9m, down from £2.4m for the comparative, whilst losses grew from £0.6m to £1.1m. The cash position has also been eroded and now stands at £1.2m. Management are upbeat, believing that H2 can bring better prospects, helped along by successful trials of new processes with a client.

#3. Bigblu Broadband acquisition news

Bigblu Broadband [LON:BBB] has this morning announced the acquisition of the satellite operations of Harbour ISP, a subsidiary of Uniti Group for £2.9m, to be paid from existing cash resources. It is expected that this will bring year 1 revenue of £2.5m and an EBIOTDA contribution of £0.7m with positive cash generation. A year end trading update will be provided on December 12th.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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