Signals, Powered By EquityPandit
Idea Cellular has said its Board has provided its approval for a merger with Vodafone India and its wholly owned subsidiary Vodafone India Mobile Services that will be creating India’s largest mobile phone company.
The company has said in a statement that Vodafone India’s business barring its investments in Indus Towers will vest in the new entity that will be renamed at a later stage.
Within 24 months, the merger should be completed that is in 2018, subject to approvals from shareholders, creditors, stock exchanges, SEBI, the telecom department and Competition Commission of India.
