Vodafone announces first-half net loss of £1.977bn

LONDON: British mobile phone giant Vodafone on Tuesday revealed it had slumped into a net loss of £1.977 billion during its first half on massive write downs linked to indebted eurozone countries Spain and Italy.

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