Vodafone launches €2bn buyback as disposals and Germany turnaround bear fruit

  • Vodafone Group PLC (LSE:VOD) announced a new €2 billiion share buyback as it posted results for the past year, saying the turnaround of its business in Germany is bearing fruit and a return to growth is expected this year. The FTSE 100-listed telecoms group reported a 2.0% increase in total revenue to €37.4 billion, as service revenue rose by 2.8% to €30.8 billion, or 5.0% on an organic basis.