NCLT approves Idea-Vodafone unit merger; deal gets all regulatory approvals

Idea, a part of the Aditya Birla conglomerate, and Vodafone signed a merger agreement last year, which could create the country's biggest telecom operator

Vodafone Idea
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Vodafone Idea

Reuters London
Idea Cellular and Vodafone have cleared the last regulatory hurdle to merge their operations in India, a source told Reuters, opening the way for the creation of a new market leader in the fiercely competitive country.

Vodafone, the world's second-biggest mobile operator, entered India in 2007 amid much fanfare but has struggled almost since its arrival due to the extremely low pricing and a long-running tax battle.

The two groups announced the deal in March last year to create a player with a combined base of around 400 million customers, overtaking Bharti Airtel and accounting for about 40 per cent of revenue

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First Published: Aug 30 2018 | 9:35 PM IST

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