Vodacom's shares slump 21%, subscribers at 40 million [MTN has 100 million]

SHOOT: Vodacom of course belongs to Vodafone which has around 300 million subscribers. Vodafone though has been slipping lately:

Guardian.co.uk: Vodafone is speeding up its cost-cutting programme, raising fears of more jobs losses, after the world's largest mobile phone company saw annual profits more than halve to £4.2bn partly due to slashing the value of its struggling Spanish and Turkish businesses.

Vodafone, which has just over 300 million customers worldwide, warned that profits this year would be flat at best as a result of the tough economic climate.

The company, which in February axed 500 British jobs, about 5% of its UK workforce, has already saved £200m as part of a £1bn cost-cutting programme outlined in November and expects to save most of the rest in the coming year, ahead of its original 2011 deadline.

clipped from moneyweb.profile.co.za clipped from moneyweb.co.za (Reuters) - South African mobile operator Vodacom posted a 21 percent drop in full-year headline earnings per share in its maiden set of results as a listed company and said it aimed to grow in Africa. Vodacom, which is 65 percent owned by Bitish Vodafone, on Tuesday reported a 14.5 percent rise in 2008 revenue to 55.2 billion rand and declared a 349.5 cents dividend per share. Vodacom said in a statement subscribers grew 16.5 percent to 39.6 million, compared to its rival MTN's 100 million users. It said it plans to spend 8 billion rand in capital expenditure.