CAIRO: Egypt's Vodafone, the second-largest telecom operator in the country, recently reported that its operations in North African countries have performed better than in southern European markets. Setbacks to its performance in Southern Europe is a result of price cuts imposed by governing regulators and weakening spending powers in countries such as Italy and Spain, the company said. A drop in service revenue in Vodafone's European operations reflect a struggling economy, particularly in Italy. Vodafone also reported a slight drop in service revenue in Egypt due to a drop in roaming service demand. This is due to a deteriorating number of visitors to the country. Data services, however have shown growth in both European and North African markets. This is due to increased usage and the growing popularity of smart-phones and mobile internet services. Vittorio Colao, Chief Executive of Vodafone Group, said, “despite the further deterioration of the southern European economic environment during the quarter, our broad geographic mix is delivering a resilient overall performance.” BM ShortURL: http://goo.gl/RlMGo Tags: Europe, North Africa, Telecom, Vodafone Section: Latest News, Tech
