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Vodafone predicts further consolidation of the ' telecom '

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The telecommunications industry is undergoing major changes and not all companies can succeed in Europe. This is the forecast released Tuesday by the CEO of Vodafone, Vittorio Colao, on his first visit to Madrid after buying the company ONO cable. " Only a few will survive; the rest will be consolidation, "he said. In Spain, the executive believes will be three groups (Telefónica, Vodafone and Orange), " that invest and create jobs."
 
ONO acquisition, announced in March, is in the logic of this process of concentration in the telecommunications market. It is the largest foreign investment since the purchase of Endesa by Enel in 2008: about 7,200 million euros of debt free. Vodafone considers that the operation allows you a giant leap in Spain at the time of giving an integrated service provision, where you think is the future. Ono is able to reach its 7.2 million cable households, but has only managed to attract 1.9 million and Vodafone sees this as an opportunity to grow, as Colao said at a lunch with journalists in the offices of the company in which defended the operation. For the group, the priority now is to integrate Spain ONO.
 
fewer operators The CEO of the group as an example of the need for a greater focus on Europe to other countries such as the U.S. and China, despite having millions of citizens, there are three or four major operators. " Can not be that Ireland has four players with only four million people," Colao said. But he warned that for mergers and acquisitions has the support of regulators, referring to the European Commission is needed.
 
Regarding situción in Spain, he was confident that the nascent economic recovery takes hold and praised the work of the PP government reform because " reduced costs ". The Group CEO requested the Executive to withdraw the rate paid by operators to fund public television. The chairman of Vodafone in Spain, Francisco Román, asked about the tax reform prepared Cristobal Montoro said: " We are concerned about the temptation to come with more creative taxes."

 Tags: 39, consolidation, predicts, Telecom, Vodafone

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