Vodafone now expects mobile phone revenue to grow about 5 percent in 2007 The mobile phone empire built by Vodafone Group, Europe’s largest operator, is beginning to show some cracks.The company has cut its sales growth forecast and will write as much as £28 billion ($49 billion) off the value of its overseas assets, it said Monday.Vodafone now expects mobile phone revenue to grow between 5 percent and 6.5 percent in 2007, less than its current fiscal year ending March 31, it said. The Newbury, England, operator cited increased competition and a regulator-imposed reduction in termination rates, or the fees operators charge each other to switch customers on to rival networks. In January, when announcing its third-quarter results, the company forecast revenue growth of between 6 percent and 9 percent for its 2006 fiscal year.Due to the adoption of international accounting rules, Vodafone expects to write down between £23 billion and £28 billion of assets, mostly on the goodwill it took on from its acquisition of the former Mannesmann in Germany.Goodwill is the value of a company beyond its assets, such as brand names, that should contribute to better earnings growth. Vodafone carries a huge amount of goodwill on its books, currently at £81.5 billion, resulting from acquisitions and other deals in several countries, including Italy, Japan, and Spain.Vodafone Chief Executive Officer Arun Sarin said in a conference call with analysts that the company has no plans to sell its 45 percent stake in U.S. company Verizon Wireless. Technology Industry