Idea
Cellular Ltd and Vodafone India announced a merger on March 20 to form
the largest telecommunication company in India. The behemoth will come as the latest company to enter the telecommunication sector after Jio, which is fast increasing its subscriber base.
The entity, after the merger, will not only have 43 per cent
revenue but also have more than 25 per cent of allocated spectrum. The merged
company would have collective revenues of more than Rs 80,000 crore and help
Vodafone in de-consolidating Vodafone India.
The behemoth will come as the latest company to enter the
telecommunication sector after Jio, which is fast increasing its subscriber
base.
After their merger, the firms announced Kumar Mangalam Birla as
the chairperson of the new telecom entity.
The Bombay Stock Exchange was also informed that Vodafone Group
and Idea Cellular have agreed to combine their operations in India.
Meanwhile, largest mobile provider, Bharti Airtel, told the
stock exchanges recently that it was all set to take over Norwegian telecom
firm, Telenor.
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