UK’s Vodafone denies any plans to exit India, says backing JV in ‘challenging’ times

UK’s Vodafone Group Plc. has strongly denied that it has any plans to exit India, saying it fully supports the management of its India joint venture – Vodafone Idea – in these ‘challenging’ times.

“Vodafone is aware of the unfounded and baseless rumours circulating in some of the Indian media that we have decided to exit the market. We would like to categorically state that this is not true and is malicious,” the British major said in a statement Thursday.

It added that Vodafone is actively “engaging with g overnment and we are fully supportive of our local management as they continue to manage our joint venture in these challenging times.”