Shares: Up

SHARES in Vodafone Group, the mobile phone network company rose 12 per cent last week. The company posted a 15 per cent rise in full year profit to pounds 418.8m as growth in its overseas associates offset UK reorganszation costs and investment. The company made a pounds 10m gain on the sale of its stake in Pacific Link, a mobile phone company in Hong Kong.

At home the company is fighting its three competitors to retain market share by cutting prices, reorganising its distribution and investing in network equipment. Chief executive Chris Gent said the company will expand its overseas assets by bidding for new licences or through acquisition.

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