Wednesday, 13 December 2017

Vodafone widens 1H loss on India writedown

By Nick Wood, Total Telecom
Tuesday 15 November 16

U.K.-based telco takes €5 billion non-cash charge as competition from Reliance Jio bites.

Vodafone on Tuesday reported a wider first-half net loss compared to last year, after writing down the value of its Indian operation. The U.K.-based telco has become embroiled in a new price war in India, sparked by the launch of Reliance Jio Infocomm, which is offering free calls and cheap data until the end of the year. Vodafone is feeling the pinch…

Vodafone on Tuesday reported a wider first-half net loss compared to last year, after writing down the value of its Indian operation. The U.K.-based telco has become embroiled in a new price war in India, sparked by the launch of Reliance Jio Infocomm, which is offering free calls and cheap data until the end of the year. Vodafone is feeling the pinch…

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