Vodafone ups cost saving target for UK unit VodafoneThree
Vodafone ups cost saving target for UK unit VodafoneThree LONDON, Oct 8 (Reuters) - Vodafone upped the cost savings target for VodafoneThree to £1 billion ($1.32 billion) by its 2032 financial year from £700 million by 2030 on Thursday, saying it had greater confidence in the British unit created by the merger of Vodafone UK and rival Three last year.
Vodafone Group Chief Executive Margherita Della Valle said: "After a strong start, we now have even greater confidence in the opportunity ahead"
Vodafone said: VodafoneThree will be a key driver of Vodafone Group's mid-term ambition for double-digit organic growth in adjusted free cash flow
The UK unit is targeting operating free cash flow growth of more than three times the financial year 2025 level
In May, Vodafone agreed to buy its partner CK Hutchison's stake in VodafoneThree for £4.3 billion, taking full ownership of Britain's biggest mobile operator a year after it was created
($1 = 0.7577 pounds)
(Reporting by Paul Sandle; editing by Sarah Young)
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