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Vodafone-Idea merger: Kumar Mangalam Birla to be Non-Executive Chairman of new entity

IANS  |  Mumbai 

Group Kumar Mangalam will be the of the merged company which will combine the business of and Cellular.

According to a BSE filing by Cellular on Thursday, the of Balesh Sharma will become the of the combined business post merger.

The BSE filing said that Sharma will be responsible for the combined business's strategy and its execution as well as driving integration.

Aditya Group, Chairman, and Group, Chief Executive, were quoted in the filing as saying: "We are pleased to announce the proposed management team for the new company to be created through the merger of and Vodafone "

"The team has extensive operational experience and is an excellent blend of expertise from both companies. We look forward to the completion of the merger and competing as one company in the marketplace."

As per the filing, at will be the of the merged entity, while at will become its

"Vodafone and Idea continue to make good progress in securing the required regulatory approvals for the merger, in keeping with the Modi Government's commitment to improve the ease of doing business in India, and completion is expected to be in the first half of the current calendar year," the filing said.

"The existing leadership teams of and will continue to manage their separate businesses and be accountable for each company's operational performance until the merger becomes effective. It is only upon completion of the merger that the two businesses will cease to operate as distinct and competing entities."

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 22 2018. 21:08 IST
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