Vodafone Group Chief Read apologises to Indian government

Vodafone Group has apologised to the Indian government about the comments on some media reports, which the company said misquoted its CEO and added that Vodafone ‘remains invested in India’ as it is a key growth market for the company.

Sources from the government told BusinessLine that government at higher levels showed their displeasure and disapproval on the tone and tenor of the Vodafone Group Chief Executive Officer Nicholas Read’s (Nick Read) comments reported in various media on Wednesday.

In its half yearly results on Tuesday, Read had said that there is ‘significant uncertainties exist in relation to Vodafone-Idea Limited’s (VIL) ability to generate the cash flow that it needs to settle’ and indicated that VIL is destined for a potentially ‘chaotic final act with potential repercussions for India’s international standing’.