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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

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 ...

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First Published: Thu, August 30 2018. 21:35 IST
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