Vodafone posts £5.2bn annual loss

Vodafone's annual loss of 6.1bn euros (£5.2bn) is largely down to the sliding value of its Indian business, with the operator writing down the value of its Indian unit by 3.7bn euros following a price war.

Matthew Kendall, Telecoms Analyst at The Economist Intelligence Unit, observed: "Vodafone's results are a measure of just how cut-throat the Indian mobile market is at the moment.

"The low-price offers from new market entrant Reliance Jio have completely shaken the market and operators are struggling to compete."

In the UK last year Vodafone was hit by a £4.6m fine for misselling and poor handling of complaints.