Vodafone to invest €500 million in Portugal “comeback”

In a punchy interview where he refuted “rumours” that Vodafone might be pulling out of the Portuguese market altogether, the company’s CEO has revealed that the communications giant will be investing €500 million in Portugal within the next two years.
Talking to Lusa news agency, executive president of Vodafone Portugal Mário Vaz said he found the ‘pull-out’ rumours “curious”, as the corporation is actually planning to double its normal investment here.
Of the €500 million earmarked for Portugal by 2016, €200 million will be going towards fibre optics, he said.
The company that has a 22-year track record in Portugal “will be investing significantly in the fibre optic network, as well as in new services both in mobile and fixed networks”, he stressed.
“I realise that the Portuguese market is very dynamic, that consolidation is a very hot topic, but to come to the conclusion that Vodafone is leaving the market is clearly excessive,” he said.
Further illustrating the corporation’s commitment to Portugal, Vaz added that in March (24-26 inclusive) Vodafone bosses will be holding their AGM here, as what is being achieved on national soil “needs to be seen first-hand”.
Quizzed over Vodafone’s slide in the national market from 2nd to 3rd place following the fusion of Zon with Optimus, Vaz said: “The 3rd and 4th had to join forces to overtake us. We are number three today due to a simple question of mathematics.”