Vodafone tries to slim its way back to health
At the start of the century, the British telco was worth more than Apple. What happened?
At the turn of the millennium Vodafone, a British telecoms company, had become one of the most valuable firms in the FTSE 100 index. On December 29th 1999 it had a market capitalisation of $152bn; Apple’s was $16bn. Today Apple is worth $2.6trn and Vodafone just $24bn, back at levels last seen in 1998 when the mobile ringtone was introduced (see chart).
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This article appeared in the Britain section of the print edition under the headline “Slimming cure”
Britain March 9th 2024
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From the March 9th 2024 edition
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