Telecom company Vodafone is going merge all its European branches to one company. According to the telecom group, this step ensures that more value is created for shareholders. Vodafone is also considering putting part of that company on the stock exchange in the long term.
Vodafone announced that plan at the same time as a trade report for the first quarter of its broken financial year. The turnover of the British company fell by 2.3 percent to 10.7 billion euros. According to Vodafone, this decrease was entirely due to unfavorable exchange rate effects.
Turnover from services amounted to 9 billion euros, a decrease of 0.2 percent. That figure was better than the average analysts had expected.