This is Vodafone?s key project to improve data experience across all its markets. For India, Vodafone intends to spend around GBP1.8bn which would give them 90% population coverage in urban centres. We note that at the end of quarter, Vodafone had 28K 3G sites compared to 38K for Bharti and 25K for Idea respectively.
Vodafone Voice usage has grown 6.6% YoY, inline with current trends. Vodafone indicated modest competitive pressure on voice tariffs which is a break from recent trends.
Vodafone believes that the upcoming auction could remain spectrum constrained. However, management indicated that the government is taking a more holistic view of the telecom sector and treating it as an enabler for growth rather than a cash cow.
