Vodafone Group's CEO, Nick Read, has said that the Indian government must come up with a significant relief package to assist the troubled Vodafone Idea joint venture, or risk the telco going out of business altogether.
Speaking at the company's six monthly results briefing in London on Tuesday, Read said that the Indian government now realised the scale of the problem facing telcos in the country. Despite having access to a market of over 1 billion subscribers, Indian telcos are being forced to trade on wafer thin margins.
"We've invested $20 billion in India, including our initial stake that we paid to get into the country &ndash…read more on TotalTele.com »