Telecom operator Vodafone will supplement the investments in Romania for the timeframe 2014-2016 with an additional GBP 45 million (EUR 54 million), which will mainly be used for the development of the 4G network, announced Inaki Berroeta (in picture), CEO of Vodafone Romania, during a press conference on Tuesday.
This added investment comes as a result of Vodafone’s sale of its participation in Verizon Wireless.
At the beginning of September, Vodafone agreed to sell its 45 percent stake in Verizon Wireless to Verizon Communications for USD 130 billion in cash and stock, which was labelled by the U.S. media as one of the most expensive acquisitions deals ever.
Among Vodafone’s main strategic directions in Romania, there will be investments into the development of the 4G network, into the network of stores and into the fiber optic backbone, as announced by Berroeta.
Vodafone’s annual investment budget in Romania stands at around EUR 100 million, but the EUR 54 million sum will represent new capital inflow which is supplementary to the annual budget announced by the operator.
Vodafone has also revamped the store in Baneasa Shopping city, which now has a new visual identity in accordance with the new design trends followed by the company. ”The Vodafone store in Baneasa is in top 3 when it comes to smartphone sales,” according to Andrea Rossini, director consumer business unit at Vodafone Romania. The company official also said between December 4 and 7, there will be discounts for all smartphones in the Vodafone portfolio.
At September 30, Vodafone Romania had 8,182,923 customers.