Emerging markets boost Vodafone profit

Mobile phone operator Vodafone has reported a big rise in profits totalling £8.7 billion, with emerging markets performing well, reports BBC News.

The operator claims it has benefited from its focus on emerging markets in Africa and Asia, with India showing strong revenue growth.

Vodafone chief executive Vittorio Colao says: "We are creating a stronger Vodafone, which is positioned to return to revenue growth during the 2011 financial year, as economic recovery should benefit our key markets.”

Qatar Telecom (QTel) which provides telecoms services in 17 countries, is seeking to buy other operators, as it faces sharper competition in its markets, states Bloomberg Businessweek.

The telco and Emirates Telecommunications Care are expanding in Africa and Asia to win new customers.

It faces increased competition as other operators enter its regions, which cover the Middle East, North Africa and South-east Asia.

Regulations imposing fees for 2G mobile spectrum in India have sent shares skidding in carriers including Bharti Airtel, which have slammed the proposal, says The Economic Times.

Bharti may have to pay an estimated $1.4 billion if the proposal is adopted.

Bharti is currently absorbing its recent $9 billion acquisition of Zain's operations in Africa and is in a bidding war for 3G spectrum.