Vodafone drops 3.2% in Spain due to its resignation from football

Vodafone drops 3.2% in Spain due to its resignation from football

The telephone company enters 2,400 million in its first semester and its book value decreases by 2,900 million euros

  The television battle of football moves many millions. The latest victim was Vodafone's subsidiary in Spain, which registered 3.2% less in its first fiscal semester (from April to September), which translates into a total of 2,421 million. The main reason is the change in rates and the loss of 98,000 television customers , 66,000 of them between July and September, as reported by the operator on Tuesday in a statement.

  The British company decided to stop buying football from Telefonica, which took over the contents of LaLiga and the Champions in June for the coming seasons. Between July and September, with the loss of 66,000 customers, Vodafone reduced its revenues to 1,206 million, which is 4.8%. The book value of the company has been reduced this fiscal semester by 2,900 million euros , as announced.

«After the current difficult commercial and economic conditions, the management has carried out a revaluation of the future business expected in Spain. After this revaluation, projected cash flows are lower and this has led to an impairment charge of 2,900 million euros, "the group said. In addition, Vodafone describes as "strong commercial battle" its decision to abandon football content.

However, the operator has considered that its business has shown "resilience", since it has added in the semester 35,000 customers of mobile phone contract and 32,000 fiber, despite the decrease of 5,000 in the latter segment in its second fiscal quarter. As of September 30, Vodafone Spain had 14.02 million mobile clients and 2.8 million fiber users (9.2% more), while those of television had 1.26 million.