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Vodafone says annual profit slumps on eurozone woes

Agence France-PresseMay 21, 2013 04:15
British mobile phone giant Vodafone said Tuesday that annual net profits tumbled 90 percent after taking a vast impairment charge relating to its businesses in debt-laden eurozone nations Italy and Spain. Earnings after taxation nosedived to £673 million ($1.03 billion, 796 million euros) in the group's financial year to the end of March, compared with £7.0 billion in 2011-2012, Vodafone said in a results statement. Group revenues retreated 4.2 percent to £44.44 billion.

Exclusive - Verizon eyes roughly $100 billion bid for Vodafone's wireless stake

April 24, 2013 22:15
By Soyoung Kim and Kate Holton NEW YORK/LONDON (Reuters) - Verizon Communications Inc has hired advisers to prepare a possible $100 billion (64 billion pounds) bid to take full control of Verizon Wireless from its partner Vodafone Group Plc, two people familiar with the matter said.

India refuses to extend Vodafone unit licences

March 23, 2013 10:31
India's government has told the Indian unit of British mobile phone giant Vodafone that its licences for three big cities cannot be extended and it will have to bid again, the company said on Saturday, The government has also refused to extend the licences of India's mobile carrier Bharti Airtel, the sector leader by subscribers, in the same three lucrative urban centres, according to local media.

Vodafone to end McLaren sponsorship deal

March 14, 2013 05:15
By Nick Mulvenney MELBOURNE (Reuters) - British mobile phone operator Vodafone will end its seven-year title sponsorship of McLaren at the end of the 2013 season, the company and Formula One team said on Thursday. Vodafone said the sponsorship, which started in 2007 and was worth up to $75 million (50 million pounds) a year, was being ended following a review of marketing strategy.

Vodafone to pull plug on F1 sponsorship-report

March 13, 2013 22:30
(Reuters) - British mobile operator Vodafone is set to end its long-running sponsorship of the Formula One team McLaren following a review of marketing strategy, The Financial Times reported on Thursday, citing a Vodafone spokesman who confirmed the decision. The Financial Times reported that Vodafone has paid as much as $75 million (50 million pounds) every year as part of its deal with McLaren, which it struck in 2007.

Australia Vodafone class action could reach tens of millions

February 27, 2013 03:15
Australian lawyers plan to press ahead with a class action suit against Vodafone over the alleged unreliability of its mobile phone network, which they believe could be worth tens of millions of dollars. Law firm Piper Alderman said the proposed case related to customers who experienced calls dropping out, unreliable mobile phone reception, erratic Internet performance and poor customer service in 2010 and 2011.

UPDATE 1-Kabel Deutschland won't fight Vodafone bid - sources

February 21, 2013 11:00
* Kabel Deutschland is in no defence mode - source * Vodafone offer could be worth 10 billion euros * Kabel Deutschland shares flat FRANKFURT, Feb 21 (Reuters) - Kabel Deutschland has no plans to fend off a potential 10 billion euro ($13 billion) takeover offer from British mobile operator Vodafone , two people close to Germany's biggest cable company said.

REFILE-UPDATE 1-Vodafone hires bank for possible German cable bid

February 19, 2013 11:01
* Appoints Goldman Sachs to advise on options-source * Kabel Deutschland hires Morgan Stanley, Perella-source * Potential 10 bln deal would transform German telco market * Vodafone looking at fixed assets in Europe * German antitrust regulator would need to review deal By Arno Schuetze and Peter Maushagen

Vodafone adds to Spain corporate job cull with 620 dismissals

February 15, 2013 08:00
By Clare Kane MADRID, Feb 15 (Reuters) - Mobile phone operator Vodafone said it had reached agreement with labour unions to lay off 620 workers at its recession-hit Spanish unit, adding to a list of job cuts in Spain's hard-hit economy. Many companies in Spain, where the unemployment rate already stands at 26 percent, are laying off staff to cut costs. The ruling centre-right government, in the midst an austerity drive to slash its deficit, has introduced measures to make hiring and firing easier.

Vodafone fall pushes Britain's FTSE 100 lower

February 4, 2013 04:45
LONDON, Feb 4 (Reuters) - Britain's benchmark share index edged lower on Monday, weighed down by a fall in heavyweight telecoms group Vodafone after investment bank Citi downgraded its recommendation on the stock. The blue-chip FTSE 100 index was down 0.2 percent, or 10.41 points lower, at 6,336.83 points. Vodafone fell 1.5 percent to take the most points off the FTSE 100 index, with traders citing the impact of the Citi downgrade, which cut its rating on Vodafone to "neutral" from "buy".
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