Vodafone Group's board meeting in Delhi tomorrow

At a time when spectrum auctions are round the corner, UK-based telecom giant Vodafone Group will on Saturday hold a board meeting in the capital.

Vodafone Group's board meeting in Delhi tomorrow

New Delhi: At a time when spectrum auctions are round the corner, UK-based telecom giant Vodafone Group will on Saturday hold a board meeting in the capital.

According to sources, the entire board of the group will attend the meeting, including the Group's CEO Vittorio Colao.

The board is likely to discuss routine agenda which include a review of its Indian business and provisioning of funds for the upcoming spectrum auctions, scheduled to start from March 4.

The company, however, refused to comment on the agenda of the meeting.

The upcoming spectrum auctions are crucial for the company as seven of its circles would complete their 20-year term by December this year and require renewal.

India is a key strategic growth market for Vodafone Group and the local unit is fourth largest contributor to its service revenues.

The company had reported net profit in the country last year for the first time since its entry in 2007 mainly on the back of growth in data and increased call charges.

Vodafone global CEO Vittorio Colao had earlier said that the company was "incredibly positive about India not only from the business point of view but otherwise too."

Colao had said after Germany, India was a priority market for Vodafone for long-term investments in technology and data.

Vodafone India said it has invested over Rs 60,000 crore in the country in the last five years.

The company has a base of 174 million customers serviced through a network of over 1,24,000 total sites, of which close to 28,000 are 3G sites, it added.

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