Telecommunications giant Vodafone has reported a further drop in revenues in Germany, its key market. Reuters reported that this was the main reason the company’s shares declined by more than 6% over the past year.
Revenues from services in Germany decreased by 6.4% in the third quarter after falling by 6.2% in the second quarter. Changes in pay TV legislation have led to the loss of more than half of cable TV customers in apartment buildings. Increased competition in the mobile sector also affected the company’s results.
Despite the problems in Germany, Vodafone demonstrated growth in the UK, Turkey, and Africa.