Vodafone revenues dented by European economic woes

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Vodafone revenues dented by European economic woes

Mobile phone giant misses forecasts amid slump in spending power in Spain and Italy and price cuts imposed by regulatorsVodafone’s UK customers are cutting back on their phone bills, forcing the telecoms multinational to miss third-quarter revenue forecasts as it battles economic headwinds across Europe. “The UK has seen slightly weaker consumer confidence, translating into lower out-of-bundle usage and lower roaming revenues as UK consumers cut back on overseas travel,” said chief executive Vittorio Colao.