Vodafone to invest $3 billion in India over next two years

Vodafone Group Plc plans to invest $3 billion in Indian networks in the next two years, chief executive Vittorio Colao said on Wednesday.

He told reporters that he was also seeing progress in India's regulatory environment, although there was not yet complete clarity.

Vodafone has sought regulatory approvals in India to take full ownership of its Indian unit, which is the country's second-biggest mobile phone carrier by revenue and users, in a $1.6-billion deal.

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