Vodafone Spends GBP2.78 Billion On Indian Telecom Spectrum Auction
March 26 2015 - 1:31PM
Dow Jones News
By Tapan Panchal
LONDON--British mobile communications company Vodafone Group PLC
(VOD.LN) Thursday said it has acquired spectrum licenses in 12
telecom circles in India for 2.78 billion pounds ($4.14
billion).
The company said the new and existing licenses will enable it to
expand its 3G services over its own network to 16 telecom circles
from nine circles.
The company's Indian unit, Vodafone India, acquired licenses
during the March government spectrum auction. The spectrum licenses
won has a 20 year term.
Shares of Vodafone closed at 224 pence.
Write to Tapan Panchal at tapan.panchal@wsj.com
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