LONDON, July 23: British mobile phone giant Vodafone said on Wednesday it would repurchase shares worth 1.0 billion pounds ($2 billion) and stressed that it was undervalued.

The move sparked a modest rally in Vodafone shares. However, it failed to reverse Tuesday’s plunge of almost 14 per cent the biggest one-day fall in its history after Vodafone warned that full-year sales would disappoint.—AFP