Vodafone shares slide on weak showing in Germany
Tuesday, February 04, 2025       20:15 WIB

London, Feb 4, 2025 (AFP)
Vodafone's share price slid more than seven percent Tuesday as the British mobile phone giant suffered from lower television streaming revenues in key market Germany following a law change.
Vodafone, which provides broadband and TV services alongside its core mobile business, saw overall revenue beat expectations in its third quarter with growth of more than five percent, it said in a statement.
But revenue in Germany dropped more than six percent in the three months to the end of December from a year earlier after a change to the country's legislation prevented housing associations from bundling TV contracts with rent.
Despite the fallout, Vodafone chief executive Margherita Della Valle said the group was "on track to grow in line" with its full-year guidance.
She pointed to a "step-up" in the UK market and a strong performance in Turkey and Africa.
In afternoon London trading, Vodafone shares were down 7.5 percent on the benchmark FTSE 100 index, which was flat overall.
Della Valle is close to completing a Europe-wide restructuring of the company begun in 2023, which has seen her slash jobs to cut costs.
The latest third quarter included the sale of its Italian unit to Swisscom for eight billion euros ($8.3 billion).
Vodafone also gained regulatory approval for the merger of its UK division with rival Three, owned by Hong Kong conglomerate CK Hutchinson.
The tie-up is set to create Britain's biggest mobile operator, after the companies pledged to invest billions of pounds on rolling out a high-speed 5G network across the country.
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Sumber : AFP