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Vodafone under pressure in Europe, sees no let-up


Vodafone under pressure in Europe, sees no let-up


Vodafone has said it continues to be hit by regulator-ordered price cuts, economic pressures and competitionm around Europe.

Its latest results did meet expectations, but it suffered a worse than expected 5.1 percent drop in service revenue in Germany, its biggest European market, and a 4.5 percent fall in its home base – Britain.

Spain was down 10.6 percent and Italy down 17.6 percent, as cash-strapped customers made fewer calls and did not upgrade their handsets.

The world’s second-largest mobile operator said it sees no prospect of improvement in the near future.

“Conditions in Europe remain challenging in northern and central and southern Europe,” Chief Executive Vittorio Colao told reporters.

The falls across the core region of Europe took the shine off some of Vodafone’s better-performing businesses, including India which showed signs of stability and an increasing demand for internet services after years of a ferocious price war.

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