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Vodafone plans to cut Triple costs to £1bn
Vodafone has raised its cost-cutting target for the UK "Vodafone Three" unit to one billion pounds by 2032, up from a previous goal of 700 million pounds by 2030. This comes after the company has become more confident in the unit's outlook, which was boosted by the merger of Vodafone UK with its competitor "Three" last year. The unit intends to become a key driver of growth in adjusted free cash flow from operating activities, aiming for double-digit growth rates, with a target of more than threefold growth in operating cash flow by 2025. Vodafone Three is one of the largest telecom operators in Britain, and its acquisition of the stake held by partner "CK Hutchison" in the unit for 4.3 billion pounds has increased its ownership stake to full ownership.
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