Paul Sidney's questions to VODAFONE GROUP PUBLIC LTD (VOD) leadership • Q1 2026
Question
Paul Sidney from Berenberg asked about the "value over volume" strategy in Germany, questioning if it's an intentional signal to the market and whether this approach would be replicated in the UK following the Three UK merger.
Answer
Group CEO Margherita Della Valle endorsed the "value over volume" approach, stating that mobile net adds are a poor indicator of revenue. She stressed that the focus must be on the value of the customer base, such as the "branded base" in Germany, to drive revenue. She confirmed this is the right strategic approach for mobile in any market, including the UK.