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Vodafone, Idea CEOs expect merger to be completed in 2018

Combination of Vodafone India and Idea will create a new champion of Digital India: CEOs

IANS  |  New Delhi 

(From left to right) Kumar Mangalam Birla, Chairman, Aditya Birla Group and Vittorio Colao, CEO, Vodafone Group at the press conference to announce Vodafone-Idea merger (Photo: Kamlesh Pednekar)

A day after the Competition Commission of gave its nod to the India-merger, both companies in a joint statement said other statutory approvals were expected to come soon and the transaction will be completed during 2018.

"We welcome the decision of the Competition Commission of approving the proposed merger of and Idea Cellular, following its comprehensive review of the transaction. It is expected that other statutory approvals will be forthcoming and we anticipate completing the transaction during 2018," Vittorio Colao, CEO, Group Plc. and Kumar Mangalam Birla, Chairman, Aditya Birla Group, said in a joint-statement.

"The proposed combination of Vodafone India and Idea will create a new champion of We remain fully committed to fulfilling the vision of the Prime Minister and the government and will connect villages, towns and cities across India with world class 4G/4G+ networks. The continuing ease of doing business in the country helps ensure that this vision for a digitally connected India is fast becoming a reality," they added.

Vodafone India and Aditya Birla Group-promoted announced their much-awaited amalgamation on March 20.

Kumar Mangalam Birla, Chairman of the Aditya Birla Group, will be its Chairman.

First Published: Tue, July 25 2017. 21:33 IST