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Vodafone still connecting with customers despite trouble at the top

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24/07/2006

Vodafone, the biggest mobile phone firm in the world by sales, claimed it added 4.5 million new customers to its roster in the three months to the end of June.

It also gained 11.7 million clients from its purchase of Telsim, a Turkish mobile company, making a total of 186.8 million customers in all. Revenue growth in Europe was 1.3%.

City analyst Colin Perry said: “All is not well in the Vodafone camp and many investors are questioning the abilities of chief executive Arun Sarin, with his leadership and strategy for growth both serious concerns. A drop in the share price from 111.25p from 150p in November hasn’t helped.”

Many investors have said they will vote against Sarin at the AGM this week.

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