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FINANCIAL NEWS
Vodafone Qatar net losses reach USD18.9m in Q4
29 Jan 2015
(MENAFN) Vodafone Qatar, an affiliate of Vodafone Group, said that it has registered USD18.9 million in net losses during the October-December period of 2014 compared with USD14.62 million recorded as net losses during the same period in 2013, Gulf Business reported.
Vodafone, which ended state-controlled Ooredoo’s domestic monopoly in 2009, is 23 per cent owned by parent Vodafone and 22 percent by a Qatar government-linked fund.
The telecom company also said that its losses during the April-December period have reached USD41.09 million as compared with USD58.49 million during the corresponding period in the previous year.
“The Qatari telecom market has witnessed some major changes in the period, in particular the prepaid (pay-as-you-go) segment due to extremely competitive pressure on prices. We intend to invest heavily in our network over the next few months,” Vodafone Chairman said in the statement.
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