Vodafone explores merger
February 3, 2022
From David Del Valle in Madrid
The CEO of Vodafone, Nick Read, said during a conference call with analysts that it is in active talks with other operators over possible consolidation moves in Spain, Italy, UK and Portugal.
All options are open: a merger, a joint venture or a sale of the company. Speculation on a possible merger with MásMóvil are increasingly mounting.
“We don’t rule out any option,” said Read. Consolidation plans are aimed at reducing costs and obtaining financial resources to invest in networks.
In Spain, tough competition is driving Vodafone service revenues down, decreasing 1.6 per cent in the third quarter to €940 million.
Meanwhile, Movistar Plus has hiked its monthly fees in its Fusion packages by an average of €3 a month.