Vodafone’s share price has underperformed the rest of the industry this year, even as the sector lost value as a whole, falling more than the Stoxx Europe 600 Telecommunications Price Index.
Although major issues like energy prices and coronavirus were outside of Read’s control, analysts pointed to how he’d handled others. A new CEO will have to address the commercial issues in Germany, and cost-of-living concerns across Vodafone’s footprint, which could undermine support for “market repair,” which might include price rises or mergers, Jefferies analyst Jerry Dellis said in a note to clients.
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