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Vodafone sheds 21.9 billion in fiscal 2005
Despite a $15 billion sale of Vodafone Japan to Softbank, Vodafone proper managed to lose some $40.7 billion in the fiscal year ending March 31, making it the largest single full-year loss in history for any British company. The world's #2 operator blamed writeoffs and stiff European competition, but another contributing factor could be Vodafone's ongoing trend of hemorrhaging much of their revenue in the form of dividends -- over $10 billion of the Japan sale, for example, was returned directly to shareholders. We know they're denying it, but is a sale of Vodafone's stake in Verizon starting to look appealing? Or is Vodafone itself looking ripe for the picking?
