New Delhi, Nov. 19 (PTI): Vodafone and Telenor’s successful bid in the recently held wireless spectrum auction is “credit positive” for both the firms as it will help the former improve coverage and latter to increase market share, says a report by Moody’s.
“The auction’s outcome is credit positive for Telenor because it will add to its market share in India, which was just under 10 per cent at the end of September.
“The auction is also credit positive for Vodafone because the additional spectrum will help enhance its coverage in India, including rural areas, at a relatively low cost,” according to the Moody’s research note.
The report said Telenor’s revenues from India were likely to double in the next three years.
At present, India accounts for about 5 per cent of Telenor’s revenues, which is likely to rise to about 10 per cent by 2015, it said.