£25bn write down rumours fail to dent Vodafone shares

NEWS Vodafone directors meeting to discuss writing down further bad investment today will be cheered by news that the mobile giant's share price has risen. Vodafone shares were up 3.25p, or 2.99 per cent, to 112p from an opening price of 108.75p. The directors are expected to make a write down of between £15bn and £25bn on the purchase of German industrial company Mannesmann, which it took over two years ago at a cost of £113bn. The board will also decide whether to write down smaller investments in companies it purchased over the past year. Vodafone's annual results will be out next Tuesday.