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Vodafone Group Plc H1 FY27 Q&A Transcript
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And last but not least, I would call out our team in Germany. It's fair to say that we have gone through, again, a lot of change, sale processes, effectiveness. The team has been great at building a strong pipeline and we see the momentum and we will see the momentum continuing in the quarters to come. So, expect this to be a good growth opportunity for us in Germany. Absolutely one of our best growth opportunities ahead of us. By the way, I say Germany, not just in Germany. Hello guys, hopefully you can hear me. Yeah, on Germany again, there's obviously been a lot of discussion around bringing the costs down. I wonder to what extent you think about bringing the capex down, decapitalising the business, and whether that could be more network sharing agreements, whether it be on the mobile side or even the fixed line side. You know, Deutsche Telekom, I think, indicated a potential willingness to share in fibre. Is that a route that you could pursue? And I say that within a sort of a general framework of cable infrastructure operators moving in that direction. And then just a super quick add-on on Germany, which is just on the accounting side, maybe to confirm. You mentioned a provision taken against the ECJ ruling. Is that a cash flow out item this fiscal year? And is that provision included in the cash flow guidance? Thank you.
David Wright Bank of America Merrill Lynch
Thank you, David. Maybe, Pilar, you can take the provision.
Margherita Della Valle Vodafone Group
I mean, we've taken a provision, a small provision related to the ongoing class action. We don't expect the class action to conclude at best at late calendar 2027. So, again, a small provision. And again, from a cash, potential cash timing perspective, we don't expect the action to conclude again at best late 2027. So, I hope that helps you.
Pilar López Vodafone Group David Wright Bank of America Merrill Lynch Pilar López Vodafone Group
So, that's not in this year's cash flow guidance?
Absolutely not, and it’s small.
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