Vodafone to spend $2 bn on India capex
October 8th 2007 16:23
New Delhi, October 8: Vodafone Essar Ltd will spend $2 billion a year on capex in India as it aims to grow quickly in the world's fastest-growing mobile market, Vodafone Chief Executive Arun Sarin said on Monday.
"Since our entry into India, our capital expenditure has doubled," Sarin told reporters in New Delhi.
"We are now spending $2 billion a year. We want to quickly grow our customer base," he said.
Vodafone, the world's second-biggest mobile firm, earlier this year paid $11.1 billion for a controlling stake in Indian mobile firm Hutchison Essar, which has since been renamed Vodafone Essar.
Sarin said the company was still working on an agreement to share telecom infrastructure including mobile towers with leader Bharti Airtel Ltd and others. "We are looking at cooperating with Bharti and others on sharing telecom towers," he said.
"We are working on an MOU (memorandun of understanding) with Bharti on sharing infrastructure. It has not been converted into a definite agreement yet," he said.
"Since our entry into India, our capital expenditure has doubled," Sarin told reporters in New Delhi.
"We are now spending $2 billion a year. We want to quickly grow our customer base," he said.
Vodafone, the world's second-biggest mobile firm, earlier this year paid $11.1 billion for a controlling stake in Indian mobile firm Hutchison Essar, which has since been renamed Vodafone Essar.
Sarin said the company was still working on an agreement to share telecom infrastructure including mobile towers with leader Bharti Airtel Ltd and others. "We are looking at cooperating with Bharti and others on sharing telecom towers," he said.
"We are working on an MOU (memorandun of understanding) with Bharti on sharing infrastructure. It has not been converted into a definite agreement yet," he said.
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