)
Telecom operator Vodafone India on Monday said it was committed to making the required investments and the comments by its non-executive chairman, Analjit Singh, of not investing in the sector were made in his personal capacity as an investor.
“Vodafone India remains committed to making requisite investments in India to further build on its success in delivering superior mobile services to its growing base of over 160 million customers across the country,” a Vodafone India spokesperson said. In April, UK’s Vodafone Plc acquired 100 per cent stake in Vodafone India in phased manner — first 24.65 per cent held jointly by Singh and his wife and then 10.97 per cent stake held by Piramal Enterprises, with a total investment of Rs 10,142 crore.
Singh on Saturday said he would not invest in the telecom sector again. Vodafone said: “The comment attributed to him was made in his personal capacity as an investor and a pioneer of the Indian telecom sector and not in his official position as the non-executive Chairman of Vodafone India.”
The company added Singh continued to be the chairman of the board of directors of Vodafone India, in a non-executive capacity. Providing second- and third-generation services, it plans to offer fourth-generation services with spectrum it won in February for Rs 19,600 crore.
