idea vodafone merger

The two telecom giants, Idea and Vodafone announced their merger on Friday and took to Twitter to make their new relationship "official". Soon after the announcement, Reliance Jio took the credit for making Idea and Vodafone "come closer" while Bharati Airtel gatecrashed their union.

New Delhi, Jan 12 () The National Company Law Tribunal has approved the proposed merger between Idea Cellular and Vodafone -- a move that brings both the companies closer to culminating the deal.

"DoT has cleared the Vodafone-Idea merger today. They will have to meet conditions for final approval," the source told PTI. The department has asked Idea Cellular to pay Rs 3,926 crore in cash for Vodafone spectrum and furnish a bank guarantee of Rs 3,342 crore, the source added.

New Delhi, Oct 2 () Vodafone India and Idea Cellular merger deal is expected to be completed by March next year, as all regulatory approvals are likely to be obtained by that time, a source privy to the deal said.

Vodafone India and Idea Cellular merger deal is expected to be completed by March 2018, as all regulatory approvals are likely to be obtained by that time, a source privy to the deal said. "There are only two permission left in the amalgamation scheme of the Idea and Vodafone," a source told PTI.

The Idea management, at an earnings call last week, said the company can “now plan the integration aspects” with approvals in place from the CCI for the merger.

The combined entity is expected to create a mobile services juggernaut with nearly 400 million users and a 35 per cent market share in terms of customers, potentially toppling Bharti Airtel from its current pole position.

Idea Cellular and Vodafone confirmed on Monday that the two companies are exploring a merger of business operations which would create the country’s biggest telecom company.If a deal is struck, the combined Vodafone-Idea entity will have nearly 39 crore subscribers, compared to Airtel’s 27 crore and Jio’s 7.2 crore.

Sebi and exchanges have given a conditional go-ahead to the USD 23 billion merger deal between Idea Cellular and Vodafone India, which would be subject to the outcome of an ongoing probe by the regulator and approvals from public shareholders and NCLT.

The mega deal was announced by Vodafone India and Idea in March 2017 to take on competition from richest Indian Mukesh Ambani's Jio, which has shaken up the telecom market with free voice calls and dirt cheap data offering.

Tatas have been looking for a new Group CFO to succeed Ishaat Hussain. Several candidates were identified both internally and from within before Agarwal was finalised by Chandra.

New Delhi, May 6 () The telecom ministry is the competent authority to take the final call on Idea Cellular Ltd's proposal for infusing 100 per cent foreign direct investment (FDI) in the company, Commerce and Industry Minister Suresh Prabhu has said.

New Delhi, Apr 22 () Idea Cellular Ltd's proposal to allow up to 100 per cent foreign direct investment in the company is under consideration of the Department of Industrial Policy and Promotion (DIPP), an official said.

New Delhi, Oct 13 () The acquisition of the consumer mobile business of Tata Teleservices will fortify Bharti Airtel's position in telecom market and help it catch up with soon-to-be-merged Idea-Vodafone combine, say sector analysts.

New Delhi, Jan 4 () Idea Cellular today unveiled a plan to raise up to Rs 6,750 crore which will alter the shareholding pattern of the company and have a bearing on its merger agreement with Vodafone.