Vodafone sees large competitors also increasing capex
LONDON, Sept 3
LONDON, Sept 3 (Reuters) - Vodafone's Chief Executive Vittorio Colao said the mobile operator's large competitors would likely follow its example in increasing spending on their networks.
"The operators with bigger shoulders will follow us, while the smaller ones or the ones who are more financially constrained may not be able to," he told analysts on a call on Tuesday.
"I don't think there will be a capex arms race. But if there were it would be better than a price war or a subsidy race because it requires operators to have a long-term orientation. It's a positive for the industry if everyone focuses on long term."
Vodafone said on Monday it would use 6 billion pounds ($9.3 billion) of the proceeds from the sale of its stake in Verizon Wireless to boost infrastructure spending for three years.
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