Vodafone CEO Vittorio Colao says the company will provide an update on its cost-cutting measures in November, a year after it announced its intention to cut £1 billion from its costs.
He described the planned update as something “to increase this cost reduction effort which I think will not disappoint investors”, which has prompted some analysts to suggest that Vodafone may be thinking of selling its 45% share in Verizon Wireless. However, he described the joint venture as a good investment, saying “for the time being we are here”. [Sources: WSJ.com; Telegraph.co.uk]