Vodafone to invest $2 billion in India this year
16 Jun 2007
Mumbai: Vodafone plans to invest two billion dollars in India this year for expanding its business. In a clear shift in strategy of becoming a mass telecom player in the country, Hutchison-Essar is looking at adding over 1.5 million subscribers a month this financial year, which would mean an addition of 18 million customers in the year.
That
would translate in a 65 per cent growth in company''s subscriber
numbers by the end of twelve months.
The company has recently constituted a new Board to administer India''s third-largest mobile firm Hutch-Essar. The constitution of the Board marks the beginning of integration of Vodafone and its Indian partner Essar, which is hoped to be completed by September this year.
The
new board has 12 members — four from Essar and eight
from Vodafone, including two independent directors. The
company has not decided to defer changing the brand name
of its services. Vodafone is also keen on creating a platform
for infrastructure sharing.