 Vodafone has warned its assets are overvalued by as much as £28bn and it faces a slowdown in revenue growth. The mobile phone giant said it would take a hit of between £23bn and £28bn - mainly on its German operations after its takeover of Mannesmann in 2000. Increasing competition will also see revenue growth slow to between 5% and 6.5% in the year to March 2007, against growth forecasts of 6% to 9% for 2006. As a result margins will slip in the next financial year, Vodafone said. Earnings before interest, tax, depreciation and amortisation (EBITDA) are now expected to fall by 1%. However, this year's results would be unaffected. Vodafone also blamed the warning on tougher regulation which has led to mobile firms reducing the amount they charge each other and landline firms for putting callers through to their customers. ...
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