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Analysts on Telefónica: "weak results", but integration with Virgin saves furniture

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In view of this, the merger of the businesses of Telefónica and Liberty Global in the United Kingdom, announced simultaneously with the accounts, is considered positive. "The operation makes strategic sense. O2, the subsidiary of Telefónica in the United Kingdom, offers only mobile telephony services while Liberty provides broadband, fixed telephony and television services. Therefore, their union means creating an integrated teleco that will be a strong competition for BT, leader of the sector until now ", explain the experts of Bankinter.

Regarding the results, Bankinter also calls them weak, penalized by the fall in income, and below the estimate. "After positive organic growth in 2019, revenues return to negative terrain with a drop of -1.3%," they point out.

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