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Vodafone takes hit

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Vodafone takes hit

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Mobile phone giant Vodafone says it has seen its revenues fall nearly five percent in Europe.

In total the company wrote down nine billion euros for the year.

This meant after-tax earnings were just under 800 million euros.

Despite the results the company is still excited about its long-term prospects.

It has pledged to use over three billion dollars from its American arm, Verizon, to counter weakness in Europe.