• Wednesday, December 07, 2022

Business

Vodafone India gets £5.5 billion equity infusion from British parent

The cash ‘will enable Vodafone India to continue its investment’

By: Eastern Eye Staff

Vodafone Group Plc has injected Rs 477 billion rupees (£5.5bn) into its Indian unit ahead of an auction of airwaves in the world’s second-biggest mobile phone market, which has seen increased competition with the entry of a new player. The British group’s subsidiary is India’s second-biggest carrier by customers and revenue. The funds, injected in the first half of the fiscal year that began in April, will “enable Vodafone India to continue its investments in spectrum and expansion of networks across various technology layers,” chief executive Sunil Sood said in a statement on Thursday (September 22). India’s already competitive telecoms…

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