BMI View: Spain’s economy continues to falter, as the country attempts to emerge from recession, but the short-term prospects are bleak. As is to be expected, high levels of unemployment have drastically cut consumers’ spending power, with telecoms one of the many sectors that are feeling a pinch. Full-year data for mobile subscribers in 2012 showed declines in subscriber numbers accelerated towards the end of the year; early figures from 2013 are far from promising, with over 1mn subscribers lost in the first quarter of the year. This cutback in subscriber numbers has had its greatest impact on larger, more …
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