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FT Opening Quote: Vodafone redials its Indian impairment numbers

Summary:
Vodafone redials its Indian impairment numbers. FT Opening Quote, with commentary by Matthew Vincent, is your early Square Mile briefing. You can sign up for the full newsletter here. Hailing from the country that gave India cricket, Victorian railway architecture and a penchant for bureaucracy, Vodafone might have expected a little goodwill on the subcontinent. Instead, India has given the British mobile phone operator a price war, a €3.7bn impairment charge and a €6.1bn loss for the full year.Thanks to the decision of India’s richest man, Mukesh Ambani, to make phone calls and data free on his new Jio network – at a cost of £16.2bn last year – Vodafone and other rivals have found themselves having to take a huge hit just to compete in the market. Vodafone’s impairment comes after it was

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Vodafone redials its Indian impairment numbers. FT Opening Quote, with commentary by...

Siona Jenkins
Former Cairene; FT Middle east news editor. Views my own.

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