Vodafone’s ambitious push into broadband faces being set back by the expected loss of Ya.com, the €500 million (£339 million) Spanish internet business, to France Télécom, owner of its rival Orange.

Failure to secure the business, which is being sold by Deutsche Telekom, will be a disappointment for Arun Sarin, the Vodafone chief executive, who is seeking to push into broadband services as part of a new “mobile plus” strategy.

The strategy was introduced after an investor revolt last year that culminated in holders of 15 per cent of Vodafone’s shares refusing to back Mr Sarin’s reelection.

The revolt was triggered by a flagging share price and Mr Sarin’s perceived inability to overcome the pressures facing the group.

The failure in the Ya.com auction, on which Vodafone is being advised by Lehman Brothers, comes ahead of the mobile giant’s full-year figures next week. It is expected to indicate plans for a more aggressive defence of its position in more mature Western markets such as Germany.

The group’s intentions in emerging markets will also come under the spotlight.

Analysts believe that its recent acquisition of Hutchison Essar, India’s fourth-biggest mobile operator, could be followed by a move for more exposure in South Africa.

Citigroup said in a recent note that it expected the group “in due course” to buy out the 50 per cent of Vodacom, its South Africa joint venture with Telkom, that it does not own, for 75 billion rand (£5.3 billion).

The mobile operator is expected to unveil results towards the top end of company forecasts of 5 to 6.5 per cent revenue growth, with earnings before interest, tax, depreciation and amortisation of £12.3 billion, up from £11.76 billion last year.

Deutsche Telekom acquired Ya.com from Jazztel for €550 million in 2000. The German operator is selling off noncore assets to focus on mobile expansion.

A spokesman for France Télécom said: “Discussions are currently under way but no decision has been taken.”

Vodafone declined to comment.

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