Vodafone Group PLC (VOD, VODPF, VOD.LN) will invest 100 million
British pounds ($166 million) in 150 new retail stores over the
next year as part of efforts to reduce its reliance on third
parties such as Carphone Warehouse Group PLC (CPW.LN), The Daily
Telegraph reported Thursday.
The mobile operator currently has fewer stores than its main
rivals but the expansion will take its total beyond 500,
leapfrogging O2 at 450, The Telegraph said. EE, Britain's biggest
mobile operator, has 600 stores, the newspaper said.
Vodafone said its new stores would create 1,400 jobs as part of
an overall GBP1 billion investment in its British operations this
year, part of its GBP7 billion international "Project Spring"
scheme, The Telegraph said.
Jeroen Hoencamp, chief executive of Vodafone UK, said: "We want
to take this company back to growth."
Newspaper website: www.telegraph.co.uk
Write to Dennis Baker at dennis.baker@dowjones.com
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