Vodafone to up investments

(MENAFN) UK-based Vodafone, the world's second leading mobile operator, plans to spend USD11.1 billion in investments, Times of Oman reported. The company's investments are to speed up its networks and increase their capacity as well as reverse the fall in revenues from its European business. The company stated that it intends to spend USD4.7 billion in Europe, USD2.4 billion and spend the rest on fixed line assets and corporate customers. The company's chief executive said: "Whilst trading conditions in Europe remain very tough at present, we are encouraged by the forecast return to economic growth over the next two years."