Not worried about competition from Reliance Jio: Vodafone chief Vittorio Colao
25 Sep 2014
Vodafone global head Vittorio Colao says that he is not worried about competition from Reliance Jio Infocomm, which is likely to start 4G services soon.
He also remained optimistic about the Indian market in the wake of the change of government at the centre.
Colao said Vodafone, which did not bid for a 4G licence, was seeing significant growth in 3G data services, and was not worried by some one else providing those services.
He said he was now and more optimistic, but political will needed to translate into action soon.
In reply to a question whether Vodafone would enter into an agreement with the government on the issue of tax, he said, one could not rule out anything in an arbitration process because it was a mechanism for finding a private solution to the dispute.
Vodafone faces a tax liability bill, which including penalties and interest stretches to Rs20,000, on its acquisition og Hutchison's business in India.
Colao told the media that the outlook in the country had changed post the elections and he felt the Modi government was pro-business, Firstpost report.
He also said Vodafone's India operations would be taken public at the appropriate time.
He added Vodafone was open to consolidation but it needed to make sense from a financial point of view. ''We cannot throw away money for the sake of consolidation".
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