Vodafone Group Plc is moving cash from Greece into the U.K.“every evening,” mirroring efforts by companies such asGlaxoSmithKline Plc, WPP Plc and Reckitt Benckiser Group Plc tohedge against the European debt crisis.

Vodafone, the world's biggest mobile-phone company, is alsolooking at billing in a different currency “if the situationarises,” Chief Financial Officer Andy Halford said on a conferencecall today. Asked about the possibility of a Greek default, he said“it's obviously something we've been having a close look at.”

The cash sweep by Newbury, England-based Vodafone shows how U.K.companies are trying to protect themselves against potentialwritedowns and losses in countries using the euro. DrugmakerGlaxoSmithKline started repatriating cash held in most euro-areabanks early last year. WPP Finance Director Paul Richardson saidyesterday that the biggest advertising company rounds up excesseuros from its banks in Europe and moves them to the U.S. wherethey are exchanged for dollars every day.

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