Vodafone to Expand UK Investments

By Marc Castro

Jun 03, 2013 12:00 PM EDT

The second largest wireless company in the world, Vodafone Group Plc, has announced that it would be inreasing its UK investments by a whopping 50%. The investment would cost about GBP900 million or US$1.37 billion and this would be used to upgrade its current network to provide faster speeds and expanded services for its consumers.

In a statement, the firm based out of Newbury, England said that it was increasing its spending for the fiscal year ending March 2014 in anticipation of the release of its faster fourth generation network. The schedule is tentatively set by the late summer.

The funds would mainly be used to complete the integration of fixed line assets purchased from  Cable & Wireless Worldwide. The deal was completed last year and cost the company GBP1.3 billion. With the purchase, Vodafone's enterprise unit grew in size. Now it allows bundled offers of computer networking and phone services to its cleintele. It is also preparing to put its wireless data infrastructure to go online.

According to Guy Lawrence, Vodafone UK CEO, "We're bringing together the best of mobile and fixed communicatons to help our business customers make their communications work for them. For consumers, it's another important step toward the arrival of our ultra-fast 4G service later this year."

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