Investments in "Project Spring," the network-improvement project announced in September, will expand to £7 billion ($11.2 billion) by March 2016 - a year ahead of schedule and £1 billion extra - Vodafone. Service revenue, excluding currency swings and acquisitions, fell 4.9 per cent in the quarter ended September 30, missing analysts' estimates for a 4.6 per cent decline, according to data compiled by Bloomberg.
CEO Vittorio Colao is betting that Vodafone can benefit from investing ahead of a recovery in European markets, expanding the reach of faster mobile and fibre broadband services. Including Project Spring, Vodafone will spend more than £19 billion on its network by 2016, Colao said on a conference call . It may be difficult for competitors to keep pace with the Newbury, England-based company's spending, according to a report from Moody's Investors Service.
"The clear, underlying message is that most companies in Europe are going to have to step up their capex in order to accelerate convergence to set off the challenges coming from Vodafone," said Carlos Winzer, senior vice president of corporate finance at Moody's.
CEO Vittorio Colao is betting that Vodafone can benefit from investing ahead of a recovery in European markets, expanding the reach of faster mobile and fibre broadband services. Including Project Spring, Vodafone will spend more than £19 billion on its network by 2016, Colao said on a conference call . It may be difficult for competitors to keep pace with the Newbury, England-based company's spending, according to a report from Moody's Investors Service.
"The clear, underlying message is that most companies in Europe are going to have to step up their capex in order to accelerate convergence to set off the challenges coming from Vodafone," said Carlos Winzer, senior vice president of corporate finance at Moody's.
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