Details have emerged of how the takeover of UPC by Vodafone has impacted the latter’s performance in Romania.
Quoting data published by the Romanian Ministry of Finance, Ziarul Financiar reports that Vodafone Romania had a net loss of RON214.1 million (€43.5 million) in 2020, compared to a net profit of RON161 million a year earlier.
At the same time, its turnover increased from RON3.9 billion to RON4.47 billion, while total debt rose from RON2.2 billion to RON3.5 billion. Meanwhile, the number of employees increased by 885 to 3,906.
Vodafone acquired Liberty Global’s operations in Romania, Hungary and the Czech Republic as part of a deal that also included its assets in Germany for €18.4 billion in 2019.
