Vodafone Group Plc forecast earnings this year will shrink as much as 11 percent amid price wars in its biggest markets and a multibillion-pound spending plan to reverse revenue declines in some markets.
The shares fell as much as 5.9 percent. Earnings before interest, taxes, depreciation and amortization in the year ending March 2015 will fall to a range of 11.4 billion pounds ($19.2 billion) to 11.9 billion pounds, the mobile-phone company said. Vodafone said it wrote down 6.6 billion pounds on the value of its businesses in its biggest market Germany, as well as Spain, Portugal, the Czech Republic and Romania last year.
