The merger of Vodafone India and Idea Cellular is on track and is expected to be completed in calender year 2018, a top Vodafone official said on Wednesday.
On the sidelines of the inaugural India Mobile Congress in New Delhi, when asked if the merger of the two telecom firms was on course, Vodafone India MD & CEO Sunil Sood said "Äbsolutely." Stating that the merger process goes through various stages, including approvals from the CCI, Sebi, the NCLT and the telecom department, Sood said: "We feel all of them are on track and in fact, we are going ahead on schedule."
On the timeline for the completion of the merger, he said it would happen by 2018.
Earlier this year, Vodafone India and Idea Cellular had agreed to merge their operations to create the country's largest telecom operator worth of more than $23 billion, with a 35 per cent market share.
The combined entity of Vodafone India and Idea Cellular, which are currently India's number 2 and 3, respectively, would dislodge Bharti Airtel to counter the fierce price war in the world's second-largest telecom market.
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