May 18: Vodafone takes a hit on Indian business

Vodafone, the world’s largest mobile network operator, said on Tuesday it would return to revenue growth in the coming financial year although fierce competition in India meant it would take a £2.3bn impairment charge in its full-year results. Sarah O'Connor of Lex talks to Daniel Garrahan about why India is now an expensive and hostile place for Vodafone and whether the $10.9bn paid by the former CEO Arun Sarin in 2007 for a controlling stake in India's Hutchison Essar was an expensive mistake.