A great deal from Verizon that helps Australian Vodafone that will benefit the users
Vodafone customers are set to benefit from a 130 billion US dollar deals between US-giant mobile company Verizon & the UK-based Vodafone Group.
Most of the profits were expected to flow back to Vodafone shareholders, but the UK-based company also announced £6 billion would go towards additional capital expenditure across all of its markets in a 3 year spending spree dubbed Project Spring.
VHA (Vodafone Hutchison Australia) expects, Australia will be one of the markets to benefit from Project Spring, which is extremely exciting as Vodafone already has strong spectrum holdings in this market.
VHA’s chief executive, Bill Morrow said that he would send an investment plan to both Vodafone and Hutchison Telecommunications for more funding. They are going to put more aggressive investment plan so as it’ll increase the strength and enable them to deliver sooner, referring to VHA’s three-year turnaround plan.
How much money would be spent in Australia was yet to be determined & depended entirely on the Vodafone’s executive team. Vittorio Colao, CEO of the company had paid close attention to Australia & spent a week there in late July talking to staffs & examining operations.
Hutchison Telecommunications & Vodafone was believed to have spent $2 billion in 2012. A $3.5 billion loan taken by VHA in June (which is already in the field) was also backed by the parents.
