Zee Media Bureau
New Delhi: UK-based telecom giant Vodafone Group will hold a board meeting in the capital Saturday where it is likely to discuss topics ranging from review of its Indian business to provisioning of funds for the upcoming spectrum auction.
The group's CEO Vittorio Colao will also attend the meeting, as per sources, where the entire board of the group is also expected.
With the spectrum auction scheduled for March 4, it is very likely that the board meeting will focus on it.
In a major relief to the group, the government of India on Thursday said it was not going to challenge the ruling of Bombay High Court decision favouring Vodafone in the Rs 3,200 crore tax case.
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.
With PTI Inputs