VodafoneZiggo feels competition

utrecht (afn) - The turnover of VodafoneZiggo merger company will be under pressure in the coming quarters due to further regulatory pressure and strong competition in the telecom market. That's what topman Jeroen Hoencamp said on Monday in a statement at the first quarter results.

Vodafone and Ziggo mother Liberty Global were ready to merge their Dutch activities to VodafoneZiggo shortly before the turn of the year. According to Hoencamp, the company makes rapid steps to integrate the business activities. Synergy benefits must provide the company with 210 million euros annually.

Fusion company sales (pro forma) decreased by 2 percent to more than 1 billion euros. At the mobile division, sales fell by 7 percent. In addition, operating income fell 6 percent lower to 431 million euros. By 2017, VodafoneZiggo expects a result of almost 1.7 billion euros.

Furthermore, the merger company wants to transfer 500 million euros to its shareholders this year.

Liberty Global itself also came with figures. That company lowered its expectations for the whole year, mainly because the results in the United Kingdom fought. The number of customers that Liberty Global turned back was stronger than anticipated. Consumers could not, among other things, unite with price increases.