Fin Crisis To Affect Telecom Indus Less Than Bk Sector – Vodafone

"I think no industry is immune from the global financial crisis’ effects and the crisis will affect the entire economy and, naturally, the telecom market," she said.

Solomon also said she cannot estimate the impact on the telecom sector, "but, for sure, it will be less affected than the financial-banking sector."

Vodafone Romania head said it is still too early to estimate the impact of the financial crisis on the Romanian economy as it has just started to affect our country.

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Solomon said the crisis will hinder the access to financing sources, which is a very important element for many companies, especially for SMEs, while the lending costs will rise, decreasing the companies’ profitability. The RON/EUR exchange rate will also be more volatile, in the opinion of Vodafone Romania’s general manager.

Vodafone Romania, part of the world’s biggest mobile phone company Vodafone, ranks second on the Romanian mobile telephony market, with 9.256 million users late June.