and Idea will have to move to Sebi for requisite approvals. All other regulatory approvals for the merger are expected within six months, sources said.
and Idea have assured the government they will return spectrum in whichever circle mandated. NCLT will ensure the merger is as per DoT and M&A guidelines.
In March, Vodafone
and Idea decided to join hands to take on intense competition. The two telecom majors decided to create country's largest telecoms operator with this merger.
The board of directors of Idea Cellular
approved the "scheme of amalgamation of Vodafone
India Limited (VIL) and its wholly-owned subsidiary Vodafone
Mobile Services Limited (VMSL) with the company.
"Upon the amalgamation becoming effective, the entire business of VIL and VMSL, excluding VIL's investment in Indus Towers Limited, its international network assets and information technology platforms, will vest in the company," a regulatory filing of Idea Cellular
Vodafone's market share was 18.16 per cent with 204.68 million mobile customers and that of Idea was 16.9 per cent with 190.51 million at the end of December 2016, as per the Trai data.