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Source: Daily Mail, LondonNov.迷你倉 13--Vodafone yesterday embarked on a pounds sterling 7bn spending blitz despite falling profits and revenues across the group after 'very tough' trading.Using the windfall from the pounds sterling 84bn sale of its stake in the US group Verizon it will spend billions globally improving its networks and services. The investment drive, called Project Spring, comes on top of the pounds sterling 12bn it was planning to spend anyway.In total, Britain will receive more than pounds sterling 1bn of investment over two years ? pounds sterling 300m from Project Spring and pounds sterling 900m of investment that was already planned.This will be used to boost its High Street presence with more shops and improve its signal and network coverage.Vodafone, which has been criticised in the past for its tax affairs, also announced pounds sterling 17.7bn of tax losses, almost all of which come from its Luxembourg division and date back to its 2000 takeover of Germany's Mannesmann.'This has no impact at all on mini storageur tax situation in the UK,' a spokesman said. 'It does not change the amount of actual cash tax we pay anywhere in the world, either now or in the future.'But critics said it could persuade the company to shift money to Luxembourg, where tax rates can be lower than 1pc.'It now encourages them to relocate as much profit as they can into Luxembourg,' said tax accountant Richard Murphy.It came as results, both in the UK and across the group, fell sharply. Group operating profits fell 8.3pc to pounds sterling 5.7bn, while in the UK service revenue dropped 4.4pc on an underlying basis.Profits from Britain also slumped by 63pc to pounds sterling 47m after it took a pounds sterling 432m financial hit on the value of its networks. Shares climbed 3.9p to 231.25p.A large chunk of the investment will go to Europe, which has been the worst-performing area for the company.Copyright: ___ (c)2013 Daily Mail (London, ) Visit the Daily Mail (London, ) at .dailymail.co.uk/home/index.html Distributed by MCT Information Services迷你倉