Vodafone has settled a long-running legal claim filed by 62 of its former franchisees who alleged the mobile phone group “unjustly enriched” itself at their expense by up to £85m.

The small-business owners – some of whom said they had suffered suicidal thoughts because of the pressure exerted by the telecoms group – launched the high court claim in 2024 after running up large personal debts they said had been caused by their deals with the company.