Vodafone:So far, so-so

Six months in as Vodafone’s chief executive, Vittorio Colao must be pleased to be raising the mobile giant’s guidance for its full year performance alongside a surprisingly good 14% rise in third-quarter revenues. But the uplift has more to do with beneficial currency shifts than the magic touch of a new chief: Colao has still inherited many problems to tackle as he steers Vodafone through the global recession. Excluding currency benefits and acquisitions, Vodafone’s Q3 revenues actually declin...