May 14, 2019 / 6:19 AM / in 2 months

Vodafone cuts dividend to tackle debt burden

LONDON, May 14 (Reuters) - Vodafone slashed its dividend on Tuesday, reversing a pledge to maintain the payout in the face of rising spectrum costs, tough competition in Spain and Italy and a balance sheet soon to be hit by the acquisition of Liberty Global assets.

The world’s second largest mobile operator cut the full-year dividend to 9 eurocents a share from 15.07 eurocents in its financial 2018 year.

Reporting by Paul Sandle; editing by Kate Holton

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