Vodafone to cut $1.1 billion from its Indian venture amid Indian price war
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Vodafone Group Plc is looking to cut about 1 billion euros ($1.1 billion) off the book value of its Indian venture, as the payment demands are increasing amid the Indian price war. According to some reports, the company could write down its 45% stake in Vodafone Idea Ltd. to around 600 million euros in half-year results on Tuesday, from 1.6 billion euros in May. The company CEO Nick Read is in constant touch with the shareholders.