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Vodafone to invest more in India: CEO

Vodafone to invest more in India: CEO
PTI
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First Published: Mon, Jan 19 2009. 03 41 PM IST
Updated: Mon, Jan 19 2009. 03 41 PM IST
New Delhi: The world’s largest mobile operator by revenue, Vodafone, which operates in India with a joint venture with Essar Group, Monday said it will invest more in India as it sees more opportunities in the country.
“We see eight to nine million mobile subscribers addition here. This means India needs more investment. We will continue to invest more as there are opportunities here,” Vodafone chief executive officer Vittorio Colao said at a Confederation of Indian Industry conference in New Delhi.
The company in 2007 had announced an investment of $2 billion.
Vodafone, which was earlier a miner stakeholder in Bharti, later exited the venture and acquired controlling stake in the Hong Kong-based Hutchison in a 11.2-billion deal last year to take control of the venture—Vodafone-Essar—which is the second largest GSM operator in India in terms of subscribers.
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First Published: Mon, Jan 19 2009. 03 41 PM IST