By Kate Holton LONDON (Reuters) - Britain's Vodafone will spend 7 billion pounds - more than expected and earlier than expected - to increase the speed and coverage of its networks and reverse a record fall in revenues resulting from its struggling European business. The world's second-largest mobile operator, which is using some of the proceeds from the $130 billion sale of its U.S. arm to upgrade its infrastructure, said it would spend 3 billion pounds in Europe, 1.5 billion in its emerging markets and the rest on fixed-line assets, enterprise and its retail arm. It will complete the program by March 2016 - a billion pounds more than expected and a year earlier than forecast - to meet the demand of consumers who want on-the-go internet access via smartphones and tablets. "We expect that during the next three to five years, Europe will definitely improve," Chief Executive Vittorio Colao told reporters.
via Tech News Headlines - Yahoo! News http://news.yahoo.com/vodafone-invest-7-billion-pounds-trading-slumps-084946550--finance.html
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