You are here: Home » Companies » News
Business Standard

India Mobile Congress: Idea merger to be completed in 2018, says Voda CEO

Speaking on the sidelines of the India Mobile Congress, Sood says "they (talks) are on track and in fact, we are going ahead on schedule"

Press Trust of India  |  New Delhi 

India Mobile Congress

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 in New Delhi, when asked if the merger of the two telecom firms was on course, Vodafone India MD & CEO 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.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, September 27 2017. 11:45 IST