Toughest conditions in four years: European mobile Q1 2019 | Jun 2019

Sectors: 
Media
Telecoms
Companies: 
BT
Hutchison 3G
Iliad
O2
T-Mobile
Telecom Italia
Telefonica
Vodafone

European mobile service revenue growth slipped again to -2.0%; its worst performance in four years

Regulation limiting intra-EU call prices could hit hard next quarter – with the UK likely to be hardest hit by up to 6% of revenues and 20% of EBITDA

Excluding the EU-call impact, we see greatest scope for improving trends in Italy and France thanks to easier comps and diminishing competitive intensity

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