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Indian results hurt Vodafone

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Indian results hurt Vodafone

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British based mobile phone operator Vodafone, the world’s second largest by revenue, has reported on-target earnings for the year ending on March 31st, but has taken a 2.6 billion euro hit on its Indian operations. This is due to escalating spectrum costs and fierce competition, plus what the company’s boss calls market rules there “that make no sense”. Vodafone shares were flat in trading.