At the same time, reports El Economista, it has decided to inject €2.5 billion into it for future investment in the country.
It adds that the move comes following Vodafone’s announcement last November on the publication of its results that it was planning a negative impact of €2.9 billion due the deterioration of its assets in Spain.
El Economista says that the capital reduction in Vodafone was announced in the Official Gazette of the Mercantille Registry (BORME), published on April 4.
It also notes that Vodafone Spain had service revenues of €1.055 billion in the quarter ending December 31, down 7.4% on a year earlier.
Total revenues were meanwhile 7% lower at €1.165 billion.