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Rediff.com  » Business » We are committed to making investment in India, says Vodafone

We are committed to making investment in India, says Vodafone

May 05, 2014 16:52 IST

Telecom operator Vodafone India on Monday said it is 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," Vodafone India spokesperson said in a statement.  

In April, British major 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 total investment of Rs 10,142 crore (Rs 101.42 billion).  

Singh on Saturday told PTI that he will 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 Ltd."  

The company added that Singh continues to be the Chairman of the Board of Vodafone India, in a non-executive capacity.  

Vodafone in India provides 2G and 3G services. In the February auction it won spectrum for about Rs 19,600 crore (Rs 196 billion) and has plans to provide 4G services using newly acquired radiowaves.

 

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