Telefonica O2 CR share price slumps to eight-year low on competition concerns

Bloomberg writes that the share price of Telefonica O2 Czech Republic hit an eight-year low on the Prague bourse amid concerns that the advent of new competition will impact on its future earnings potential. The country’s largest telco by subscribers and revenue, backed by Telefonica of Spain, saw its share price slump by 3.1% to CZK323.5 (USD10.36) at the close on Friday, its lowest level since October 2004

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OVETEL Telefonica O2 CR share price slumps to eight-year low on competition concerns