Vodafone Group is preparing for an initial public offer (IPO) for its India unit, its chief executive officer Vittorio Colao said here on Wednesday. "Can't give you a date. We are positively inclined towards it. We have started the preparatory work," the CEO said in a meeting.
The company has been planning for its IPO for quite some time. Upbeat about the Indian operation, Colao said Vodafone would maintain its investment level in India.
"We will continue with our level of investments. We will continue to expand." "There are a lot of things happening in the telecom world. The new generation is glued to data. We are the digital planners. We will enable entrepreneurs to fulfil their dreams," he added.
"We have partnered with the government to enable its Digital India and Financial Inclusion programmes," Sunil Sood, the managing director and CEO, Vodafone India, said. Vodafone has so far invested Rs.80,000 crore in India. It invests around Rs.8,500 crore every year in the country.
Talking about recent move by the Indian government to allow spectrum trading and sharing, he said: "It is a positive move." Later in the day, Colao met union Communications Minister Ravi Shankar Prasad. "Vodafone CEO appreciated spectrum trading and sharing norms," the minister said, adding that Colao has expressed his concerns over call drop issues in India. "The call drops issue have to be addressed on a priority basis," Prasad added.