Vodafone Invests $1 Billion in India to Drive Data Use
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Vodafone Group Plc. is spending $1 billion to upgrade its network and retail stores in India as it counts on surging data use to drive growth in a market where the average customer spends about $3 a month.
While the network is being upgraded for faster services, the rollout is being constrained by low revenue and limited wireless spectrum, Vodafone India Chief Executive Officer Marten Pieters said in an interview. The company won’t consider an initial public offering of the unit, India’s second-largest wireless operator, until it has greater certainty about its access to airwaves.