MOBILE phone giant Vodafone has slumped into the red with annual losses of €6.1 billion (£5.2 bn) after taking a mammoth hit on its Indian arm.
The group confirmed a €3.7bn (£3.2bn) writedown on its under-pressure Indian business after striking a deal in March to merge the operation with Idea Cellular to help tackle a raging price war in the country.
Vodafone also suffered a 15.8 per cent plunge in underlying earnings in the UK as it was hit by falling sales and the impact of the pound's plunge since the Brexit vote.
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