This move comes within two weeks of Vodafone Plc, company said it would spend Rs 10,141 crore to buy out minority stake holders in the Indian entity.
British telecom giant Vodafone is planning to invest an extra Rs 7,000 crore in India between April 2014 and March 2016 on strengthening its network, Vodafone India’s chief financial officer, Colman Deegan reportedly said.
This move comes within two weeks of Vodafone Plc, company said it would spend Rs 10,141 crore to buy out minority stake holders in the Indian entity.
Out of the Rs 7,000 crore, a little more than 60% would be invested in enhancing its data network, said Vodafone India’s managing director and chief executive officer, Marten Pieters.
“This Rs 7,000-crore capex will only be invested in enhancing network, fibre optics and assets. This is in addition to our usual operating expenditure of Rs 4,000-5,000 crore every year” reports Deegan.
Vodafone has invested Rs 56,000 crore in India since its entry.
Also, Vodafone Plc chief executive Vittorio Colao reported that the company would look at listing its Indian entity once the Rs 11,200-crore tax dispute with the government was settled.
British telecom giant Vodafone is planning to invest an extra Rs 7,000 crore in India between April 2014 and March 2016 on strengthening its network, Vodafone India’s chief financial officer, Colman Deegan reportedly said.
This move comes within two weeks of Vodafone Plc, company said it would spend Rs 10,141 crore to buy out minority stake holders in the Indian entity.
Out of the Rs 7,000 crore, a little more than 60% would be invested in enhancing its data network, said Vodafone India’s managing director and chief executive officer, Marten Pieters.
“This Rs 7,000-crore capex will only be invested in enhancing network, fibre optics and assets. This is in addition to our usual operating expenditure of Rs 4,000-5,000 crore every year” reports Deegan.
Vodafone has invested Rs 56,000 crore in India since its entry.
Also, Vodafone Plc chief executive Vittorio Colao reported that the company would look at listing its Indian entity once the Rs 11,200-crore tax dispute with the government was settled.
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