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Vodafone building multimillion-dollar chest for war with Jio

  • Vodafone (VOD -1.7%) is pouring billions into its Indian operations as it prepares for a bruising competition with Reliance Jio -- the upstart mobile operator arm of India's richest man that has shaken the market with an aggressive price entry.
  • Jio has announced commercial wireless service coming at the end of the year as a 100% 4G player in an unusually competitive market: It's the 12th competitor in India, vs. markets that generally have three or four. It also has the country's largest hoard of spectrum, along with a complete vertically integrated setup.
  • Vodafone -- No. 2 in the market, behind Bharti Airtel -- has moved around $7.2B from Newbury to its India operations, preparing for a fight on multiple fronts including a pricey spectrum auction.
  • Vodafone India is also heavily indebted. That infusion, "which we believe is the largest ever in India, will enable Vodafone India to continue its investments in spectrum and expansion of networks across various technology layers delivering the best of experience to our hundreds of million customers,” says Vodafone India CEO Sunil Sood.
  • Two other major operators (Reliance and Aircel) have elected to pool resources for the competition ahead.

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Vodafone Group Public Limited Company