Vodafone Looking at $3 Billion Indian Investment Over 2 Years
Published on: 6th Dec 2013
By: Ian Mansfield
Vodafone expects to spend around USD3 billion on network upgrades in India over the next two years the Group's CEO Vittorio Colao has confirmed.
He also said that there are improvements in the country's regulatory regime, but there are still issues to be overcome.
Vodafone is currently seeking regulatory permission to buy out its minority shareholders and take full control of the company. The USD1.6 billion foreign investment in the country is due to be discussed by the regulators this month after delaying the issue last month.
The mobile network is still trying to settle the long running tax dispute over its original purchase of its stake in the Indian company.