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Vodafone Group has posted its financial report for the quarter to 30th June 2018
Vodafone Group’s outgoing CEO, Vittorio Colao, has said that he expects Vodafone India’s long mooted merger with Idea Cellular to complete by the end of August.
Speaking to the press following the company’s quarterly financial reporting, Colao said that the company had now received "conditional approval" from India’s Department of Telecoms for the merger to proceed.
"In India, where competition remains intense, we have now received conditional approval from the Department of Telecoms for the merger of Vodafone India and Idea Cellular, which we aim to close before the end of August, allowing us to unlock substantial synergies," he said.
Vodafone Group’s revenues fell by 4.9 per cent to €10.9 billion on a year-on-year basis, which the company attributed to adopting the IFRS15 system as well as fluctuations in international currency exchange rates.
On average, data traffic increased by 57 per cent during the quarter across Vodafone Group’s global networks. In India, the volume quadrupled, a shift in dynamics which the group attributed to steep decline in data pricing in the Sub-Continent. Vodafone customers in India consumed an average of 4.6Gb of data per month (compared with just 2.8Gb in Europe).
"Our network investments have created a strong platform to capture this data demand, and we continue to have the leading or co-leading network NPS scores in 14 out of 20 markets including India," a Vodafone spokesperson said.
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