Britain's Vodafone plans to spend 7 billion pounds on its networks following the sale of its U.S. business, ramping up investment after it posted a record fall in quarterly organic service revenue.The world's second-largest mobile operator, which agreed a deal in September to sell its U.S. arm to Verizon Communications for $130 billion, said it would spend 7 billion pounds ($11.2 billion) by March 2016 to improve its networks in a bid to set it apart from rivals.The group announced the details of its "Project Spring" spending programme as it reported first-half results showing the pressures across the group.Organic service revenue - its key ongoing revenue measurement which strips out the impact of one-off costs such as handset sales - was down 4.9 percent in the second quarter due to very weak trading in Europe.
Verizon Communications Inc. (Verizon) is a holding company. Shares of VZ remained unchanged at $49.96. In the past year, the shares have traded as low as $40.51 and as high as $54.31. On average, 14436900 shares of VZ exchange hands on a given day and today's volume is recorded at 0.
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