Record losses for Vodafone
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Vodafone reports a Â£14.9bn loss - a record for a UK firm - after writing down the value of assets.
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The loss of $8.95 per share was atributed to charges related to the company's retreat from traditional telephone services.
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Vodafone says it expects to cut costs by 2.5 billion pounds per year by March 2008, and has reiterated its guidance for this financial year.
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And hits 3Q targets Vodafone is mounting a legal challenge to Ofcom's call for mobile operators to allow their customers to shift their number to another network within two hours.â¦
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Vodafone Group Plc  vowed not to pay "over the top" in the multi-billion-pound battle for India's Hutchison Essar on Wednesday, as the British mobile phone giant said it had crossed the 200-million customer mark.
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(InfoWorld) - Vodafone Group had almost 200 million customers by Dec. 31, but continues to face challenges in the competitive and saturated European market. The operator's European business stagnated, with fourth-quarter revenue growing just 0.9 percent year on year, excluding the effect of acquisitions. Worldwide, its growth excluding acquisitions totalled 6.1 percent. The company accounts for revenue from partly-owned subsidiaries in proportion to its holding. Vodafone said that despite low growth in Europe, some of its new calling plans, such as one that offers users a lower price for calls made within their home area and others that include fixed-line broadband Internet access, are attracting new customers. Price competition, however, is offsetting that growth. Revenue from Vodafone's operations outside Europe, excluding acquisitions, grew 14.4 percent compared to a year earlier. Egypt, Romania, South Africa, and Turkey showed particularly strong growth during the period, Vodafone said. The operator offered no further insight into itsÂ negotiations to buyÂ a controlling interest in Indian operator Hutchison Essar. The board is continuing to investigate the possibility and will only agree to a deal that meets Vodafone's financial criteria, Vodafone CEO Arun Sarin said during a conference call to discuss the results. U.S. operator Verizon Wireless, in which Vodafone owns a stake, also did well during the quarter, with Vodafone's share of the business acquiring one million new customers. Vodafone is still pleased with its stake in Verizon Wireless, although the company uses a different wireless technology to that used by Vodafone's holdings elsewhere in the world. "There is no concept of our selling our interest there," Sarin said. While rumors have surfaced regularly over the past few years that Verizon Wireless might be considering a major technology change, that's still doubtful, Sarin said. Even Apple'sÂ much anticipated iPhone, which operates on GSM (Global System for Mobile Communications), the technology that competes with Verizon's CDMA (Code Division Multiple Access) network, is unlikely to encourage Verizon to make a change, Sarin said. The migration to fourth-generation networks, which operators will begin to make in the next few years, will probably cement Verizon's choice. "That's the time Verizon Wireless will think about what next generation of technology that they can deploy and of course they'll try to deploy a technology that is as backward compatible as they can," he said. Data services are also paying off for Vodafone. Non-voice average revenue per user was up 62 percent for the quarter compared to the year earlier. Vodafone has attracted 50 percent of its total customers to sign up for Passport, a plan that offers reduced rates on roaming. The European Commission is proposing a regulation that would require operators to reduce their roaming rates. Vodafone doesn't expect the commission to make a final decision until this summer, said Sarin.
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Vodafone could pay up to $10bn (&pound;4.9bn) to take full control of Vodacom, South Africa&#39;s largest mobile group.
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AT&amp;T on Thursday reported a $7.1bn third-quarter loss because of an $11.4bn writedown of its assets after its retreat from consumer services and other restructuring charges.
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Row goes to arbitration Vodafone is still refusing to officially recognise the Connect union, which is so keen to represent its members it has taken Vodafone to the government's Central Arbitration Committee to force recognition.â¦
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Thousands of loss-making phone boxes face the axe as mobile phone use soars in the UK, says BT.
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Profit margins from Vodafone continuing businesses fell from 39.6 per cent to 38.7 per cent, the mobile phone operator said on Tuesday as revenue growth outpaced the rise in earnings before interest, tax, depreciation and amortisation.
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VODAFONE, the world&#39;s largest mobile phone network, launched its third-generation services in 13 countries today, including the UK.
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Vodafone Group Plc won 5.4 million more customers over the key Christmas trading quarter, topping forecasts, and the mobile phone giant reiterated its full-year forecasts on Wednesday.
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British mobile phone giant Vodafone PLC doubled its dividend payment and extended its share buyback program after posting a narrower loss Tuesday for the first half of the year.
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VODAFONE posted what chief executive Arun Sarin described as &quot;a robust set of half year results&quot; on Tuesday. * Group turnover of Â£16.8 billion.
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The FTSE 100 was trading lower on Monday despite sharp gains for Vodafone after the UK's largest mobile phone company sealed the $18.8bn battle for control of Hutchison Essar.
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Vodafone Group has denied a Monday report by the Financial Times that it was considering buying Verizon Communications in a huge $160 billion deal.