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Telecom sector witnesses $13.6 billion worth transactions from 3 deals
Vodafone and Idea Cellular have recently announced that they have reached an agreement to combine their operations in India (excluding Vodafone's 42 percent stake in Indus Towers).
According to the new report by Mergermarket, the telecom sector witnessed a transaction worth $13.6 billion from three deals, as compared to $60 million from two deals a year ago.
The report says that the deal between Vodafone Group's merger of Vodafone India with Idea Cellular, contributed $12.7 billion to the sector, which accounted 70.6 percent of the total value. Another noteworthy deal in the sector was Kohlberg Kravis Roberts & Co's (KKR) $948 million investment in Bharti Infratel Limited for a 10.3 percent stake.
There is no doubt that ever since Reliance Jio has announced its foray into the industry, all incumbents telecom operators are trying to cope with the situation by launching new tariff plans.
TRAI Data: Jio tops average download speed
Vodafone and Idea Cellular have recently announced that they have reached an agreement to combine their operations in India (excluding Vodafone's 42 percent stake in Indus Towers).
The combined company would become the leading communications provider in India with almost 400 million customers, 35 percent customer market share and 41 percent revenue market share.
Post the amalgamation, Vodafone will hold 45 percent in the combined entity while Idea promoters will hold 26 percent share.
The rest will be held by the public. The combined entity of Aditya Birla group's Idea Cellular and Vodafone India will have the widest network in the country and pan-India 3G/4G footprint, the companies said in a statement.
According to India Ratings, the proposed merger of Vodafone India and Idea Cellular Ltd (Idea) will be a positive step for the telecom industry as it eliminates duplication of spectrum and infrastructure capex.
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99,999
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1,29,999
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69,999
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41,999
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64,999
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99,999
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29,999
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63,999
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39,999
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1,56,900
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1,39,900
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1,29,900
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79,900
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65,900
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12,999
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96,949
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16,499
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38,999
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49,999
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30,700
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12,503
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68,999
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23,990
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1,25,999
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36,999
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38,999
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1,17,840
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35,000
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23,960
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82,510