World’s largest telecom operator Vodafone is still gung-ho about the Indian telecom sector’s growth story as its global CEO, Vittorio Colao, today said the company would continue to invest heavily in India.
Speaking to media persons here, Colao said, “We see eight to nine million mobile subscribers’ addition here. This means India needs more investment. We will continue to invest more here as there are opportunities here.”
In 2007, the company had acquired a controlling stake in the Hong Kong-based Hutchison in an 11.2-billion deal. Through the deal, Vodafone took control of the Vodafone-Essar, which now has the the second largest GSM subscriber base in India after Bharti Airtel.
Prior to buying Hutchison, Vodafone held a minority stake (10 per cent) in Bharti Airtel. However, Vodafone later exited the company and at present holds 4 per cent indirect stake in Bharti Airtel.
