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Will Vodafone Group plc’s Big Spending Pay Off?

Vodafone (LSE: VOD) (NASDAQ: VOD.US) plans to spend £19 billion over the next two years improving its networks, but in the short term shareholders will be rewarded for holding on with declining core earnings. Having sold off its fast-growing US business, is there anything but the high dividend yield to keep us interested?

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Owain owns shares in Vodafone.