. Last Friday, the world's largest mobile carrier, Vodafone (VOD), reported disappointing second-quarter numbers. While its own share price decline was a moderate 1.7%, Vodafone's report pushed Telefonica (TEF) into an 8.5% tailspin on Friday. Telefonica's share price has now crumbled from $30 in early 2010 to just above $11. Obviously, Spain's economic woes are weighing on the carrier heavily, but why did Vodafone's earnings report on Friday have such a dramatic impact?
The biggest shock in Vodafone's spring performance was the 10% revenue decline posted by Vodafone Spain.
Boy Genius Report , A mobile meltdown in Spain, A mobile meltdown in Spain
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