SBI Provides Rs. 10,000 Crore Loan to Vodafone
Submitted by Deepak on April 27, 2009 – 4:00 am
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Reportedly, Vodafone India has raised Rs. 10,000 Crore funds in the form of Loan from India’s top bank – State Bank of India (SBI).
According to reports, it has been added that these funds may have been raised looking the upcoming launch of 3G services in India, and the Cellcos will have to incur a heavy expenditure for upgrading their infrastructure and towards 3G license fees.
Though, no official reports is out from Vodafone yet, but experts says that no network expansion should be expected out of these funds, because it has been exclusively raised for upgrading their networks to 3G services.
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