LONDON -(Dow Jones)- Vodafone Group PLC (VOD) Chief Executive Arun Sarin Wednesday said he doesn't see a near-term recovery in its troubled Japanese operation.
Sarin explained the company is around nine months into a 18 to 24 month turnaround program in the region and its immediate priority is to stabilize its market share.
Vodafone is the weakest of the three mobile operators in Japan and has recently suffered falling market share due to the delayed launch of its third-generation, or 3G, services.
But Sarin said it is important Vodafone retains a presence in Japan as the region leads the world in new products and services.
Regarding a potential move for Cesy Telecom AS (BAATELEC.PR), Vodafone Deputy Chief Executive Julian Horn-Smith said the company is considering a move for the company and will make a decision within a month.
Vodafone shares at 0825 GMT were up 2.25 pence, or 2.3%, at 143 pence.
Company Web site: Http://www.vodafone.com
-By Nic Fildes, Dow Jones Newswires; 44-20-7842-9264; nicolas.fildes@dowjones.com
(END) Dow Jones Newswires "
Posted to the site on 26th January 2005
Posted to: www.cellular-news.com/story/11808.php