Vodafone Shares Rise After Securing Network Expansion Deal With Nokia: What's Going On?

Vodafone Group Plc VOD shares are moving higher Thursday after the company secured a deal with Nokia to enhance Vodafone Idea's IP backhaul network in India.

What To Know: Nokia announced that Vodafone Idea Limited (VIL), a joint venture between Aditya Birla Group and Vodafone Group, chose the company to modernize and expand its IP backhaul network.

Under a three-year agreement, Nokia will deploy its IP/MPLS solutions, including the 7750 SR and 7250 IXR series, across multiple telecom regions in India. The goal is to improve network scalability, connectivity and efficiency while phasing out outdated systems.

Vodafone Idea aims to enhance network density by deploying new IP routers, cutting costs, accelerating deployment and improving scalability for future growth. The upgrade will be driven by automation-based planning and migration, which Nokia says will strengthen network capacity and resilience while promoting sustainability with energy-efficient solutions.

Vodafone Idea CTO Jagbir Singh emphasized the partnership aligns with the company's focus on improving customer experience and meeting growing data traffic demands. Nokia’s Head of Network Infrastructure in India Prashant Malkani highlighted Nokia's IP/MPLS technology would ensure a high-performance network capable of supporting both 4G and 5G requirements.

VOD Price Action: Vodafone shares closed Thursday up 3.71% at $9.50, according to Benzinga Pro.

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