# VodafoneThree accelerates cost cutting to reach £1bn by 2032

By Dan Coatsworth — 2026-10-08

Dan Coatsworth, head of markets at AJ Bell, continues to be impressed with chief executive Margherita Della Valle’s work at VodafoneThree after the mobile phone giant accelerates cost cutting to reach £1billion by 2032.

He said: “The integration process after a merger is notoriously fraught with challenges, so to see Vodafone upgrade its targets for its VodafoneThree combination in the UK is encouraging.

“The annual cost-savings target has been hiked by a meaningful amount, and earnings and free cash flow targets have also seen a big uplift.

“After years of going nowhere on the stock market, today’s announcement is the latest feather in the cap for chief executive Margherita Della Valle as she continues to execute on a turnaround of the group.

“Since taking over at the beginning of 2023, Della Valle has delivered a total return of 75 per cent, according to ShareScope data, which compares with a return over the previous decade of just over one per cent.”

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