Vodafone struggles in Italy, Germany, but holds guidance

(Sharecast News) - Telecoms giant Vodafone held full-year guidance as it reported a fall in third-quarter service revenues, driven largely by declines in Germany. The company on Monday said service revenues fell 1.4% to €9.3bn on a reported basis. Service revenue growth in Germany was down 0.3%.

Vodafone added that it was still in active talks on a potential merger for its Italian operations after rejecting a deal with rival Iliad in Italy last month.

Service revenue in Italy fell by 1.3% in the third quarter against a 1% drop in the prior three months.

Reporting by Frank Prenesti for Sharecast.com