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Vodafone endures write-down, cuts sales goal amid weak Europe markets

Reuters
May 23, 2012, 5:53 pm TWN

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LONDON -- Vodafone cut its medium-term sales target and took a write-down of 4 billion pounds on Tuesday as cash-strapped customers in southern Europe made fewer calls and regulators upped the pressure on the world's largest mobile operator.

Vodafone posted full-year results in line with forecasts and stood out from its peers by promising another strong dividend as strength in emerging markets and Germany, Britain and Turkey offset a slump in spending in Spain and Italy.

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