Uncertain future

Vodafone mulls abandoning Spain

BRITISH telecoms group

Vodafone could pull out of Spain and has hired the Morgan Stanley investment bank to review its options in the country, according to Spanish media reports. Spain, which comprises around 9% of global operations, was Vodafone’s worst-performing region in the 2023 financial year, with service revenue growth falling by 5.4% - the highest in any of the company’s markets. The fall was blamed on ‘continued price competition and a lower customer base’.

In the group’s latest annual report, published in May, it noted a ‘strategic review’ of its operations in Spain was part of a multi-faceted