The Straits Times
Published on Nov 13, 2012

Vodafone announces first-half net loss of $3.8 billion


LONDON (AFP) - British mobile phone giant Vodafone on Tuesday revealed it had slumped into a net loss of 1.977 billion pounds (S$3.8 billion) during its first half on massive writedowns linked to indebted eurozone countries Spain and Italy.

Vodafone's loss after tax for the six months to September 30, equivalent to US$3.138 billion or 2.473 billion euros, came as the company said it suffered impairments totalling 5.9 billion pounds linked to financial turmoil in Spain and Italy.