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13/11/2001
Vodafone announces huge loss
Over-ambitious acquisitions during the late 1990's by UK mobile operator Vodafone has resulted in company posting losses of £8.45bn over the same period.
The bulk of the loss stems from the company’s decision to absorb the cost of recent acquisitions now, rather than wait for their new subsidiaries to pay for themselves.
However, the company’s numerous subsidies purchased during this period are still in pole position to cash in on future mobile telecommunications booms in key markets such as Japan. What remains to be determined is when these future mobile communications booms will materialise.
While the mobile operator has reported losses, numerous Vodafone supporters are pointing out that the company remains in a better position than rivals such as BT. In order to fund its investment in the latest generation mobile operations BT borrowed nearly £30bn. (MB)
The bulk of the loss stems from the company’s decision to absorb the cost of recent acquisitions now, rather than wait for their new subsidiaries to pay for themselves.
However, the company’s numerous subsidies purchased during this period are still in pole position to cash in on future mobile telecommunications booms in key markets such as Japan. What remains to be determined is when these future mobile communications booms will materialise.
While the mobile operator has reported losses, numerous Vodafone supporters are pointing out that the company remains in a better position than rivals such as BT. In order to fund its investment in the latest generation mobile operations BT borrowed nearly £30bn. (MB)
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T-Mobile launches picture messaging service
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