Vodafone looking to Italy for new investment opportunities

Vodafone could spend a substantial part of the money it will allocate to new investment following its exit from the Verizon Wireless joint venture in Italy, according to CEO Vittorio Colao.

Colao told Il Corriere della Sera newspaper that he is ready to invest a substantial portion of the £6 billion (€7.1 billion) it has earmarked for new investment in the Italian market.

The Vodafone chief said that Italy would play an important part in the company’s plan, codenamed Project Spring, to accelerate the deployment of 4G and fibre networks, either on its own or in partnership with Telecom Italia.