Vodafone hails turnaround progress as Germany returns to growth

Telecoms company is awaiting a decision from the UK regulator on its potential merger with Three

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Vodafone has said its turnaround plan is starting to show results as Germany, its largest business, returned to growth last year after the sale of its Italian and Spanish operations.

The telecoms company has been undergoing a transformation programme under its chief executive, Margherita Della Valle, who has sought to simplify the group and taken action in three underperforming markets where Vodafone’s returns were below the cost of capital.

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