The CEO of Vodafone Group, Nick Read, has stated that the company will always evaluate any consolidation opportunity that may arise in the Spanish telecommunications market, but has stressed that the company has a “good plan” for organic growth as reflected the results of its second fiscal quarter in the country.
In a conference with analysts to present the results of Vodafone in its first fiscal semester, Read has remarked that “of course”, if there were consolidation opportunities in Spain they would “always” evaluate them if they create value for their shareholders and strengthen their position in the market.
However, it has also defended that its Spanish subsidiary has a “good plan” for organic growth as reflected in the “good” results presented this Monday, which show that the company has been increasing or stabilizing its mobile, television and band clients for five quarters fixed broadband and two semesters increasing the gross operating profit.
In this sense, he recalled that the operator launched a long-range plan two years ago in Spain that has led to a radical restructuring and a transformation strategy with measures such as a “totally different” business plan to compete in all markets, the departure from football or a commitment to digitization and network sharing.
Read has remarked that the team in Spain has managed this transformation “in an excellent way” and that now the operator is “on the right path”. Thus, it has influenced that the results are a “good proof” of the progress made and has ensured that, although competition in Spain has intensified both in the low cost and in the ‘premium’, Vodafone is competing “very efficiently ”.
Asked about the consolidation opportunities in Spain at the press conference on the results of the operator in its first fiscal semester, the president of Vodafone Spain, António Coimbra, has indicated that this is a question for its shareholders and has been referred to the words from Nick Read.