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Vodafone Idea plans $3.8 billion capital spend to expand network

But ballooning debt, competition from Reliance Jio add to investor concerns

Vodafone Idea plans to raise nearly 250 billion rupees through a rights issue in January-March to pare down a part of its obligations.    © Reuters

MUMBAI (NewsRise) -- Vodafone Idea, India's largest mobile phone operator, plans to spend 270 billion rupees ($3.8 billion) until March 2020 to expand its high-speed network, but mounting losses and ballooning debt raise investor concerns.

Vodafone Idea, formed after the U.K.'s Vodafone merged its Indian operations with Idea Cellular in August, said in an investor presentation that it plans to extend its fourth generation internet service coverage to 80% by March 2020, with a more than two-fold jump in network capacity.

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