Just In
- 2 hrs ago Best Noise-Cancelling Earbuds Under Rs 5,000: CMF Buds Pro, Redmi Buds 5, Realme Buds Air 5, and More
- 2 hrs ago How to Get Zomato Gold Membership Worth Rs 999 for Free
- 5 hrs ago Garena Free Fire Max Redeem Codes for April 20, 2024: Get Access to the Latest In-game Loot
- 5 hrs ago Apple Watch X Renders Surface: Magnetic Bands, Blood Pressure Tracking, and More
Don't Miss
- Movies Do Aur Do Pyaar Box Office Collection Day 2 Prediction: Vidya-Pratik's Rom-Com To Cross 1 Cr On Saturday
- Education IISER 2024 Registration Started; Know how to apply @iiseradmission.in and more details
- News TS Inter Results 2024 Manabadi: 1st And 2nd Year Results Expected Soon
- Sports IPL 2024: Gautam Gambhir Always Knew Sunil Narine Would Become A T20 Legend
- Finance Elon Musk Postpones India Trip, Tesla's Indian Market Entry Delayed
- Lifestyle Russian Influencer Starves His Newborn To Death With Sunlight Diet, Know Dos And Don’ts Of This Diet
- Automobiles Tesla CEO Elon Musk's Much-Awaited Visit to India Deferred, Leaving Questions Unanswered
- Travel Journey From Delhi To Ooty: Top Transport Options And Attractions
Vodafone and Idea Cellular merger to be completed by March 2018: What this means for other telcos?
Vodafone India and Idea Cellular merging their operations would lead to the creation of the country's largest telecom operator worth of more than USD 23 billion.
Earlier this year, Vodafone India and Idea Cellular had come to an agreement that the two companies would merge their operations to create the country's largest telecom operator worth of more than USD 23 billion with a 35 percent market share.
While the specific timeline was not shared, as per a new report from PTI, Vodafone India and Idea Cellular merger deal will likely be completed by March next year. This timeline seems right as all regulatory approvals will most probably be obtained by that time. "There are only two permissions left in the amalgamation scheme of the Idea and Vodafone. It should be completed by end of the current financial year," an anonymous industry source told PTI.
While the official word is yet to be given by both the companies, currently the two telcos have been communicating with National Company Law Tribunal (NCLT) and seeking its approval. Once that this done they will need the final approval from the Department of Telecom.
As such, Idea Cellular will be conducting a meeting of shareholders and creditors on October 12 in Gandhinagar to seek their approval for the amalgamation of Vodafone India's business. The meeting of equity shareholders secured creditors and unsecured creditors is being held following directions of the NCLT bench at Ahmedabad.
As for the effect of the merger, the combined entity of Vodafone India and Idea Cellular, which are currently India's number two and three, respectively, would probably upset Bharti Airtel's move to counter the fierce price war in the telecom market.
Meanwhile, Reliance Communications on Sunday did announce the termination of the mobile business merger deal with Aircel due to "Legal and regulatory uncertainties, and various interventions by vested interests" leading to "inordinate delays in receipt of relevant approvals for the proposed transaction."
-
99,999
-
1,29,999
-
69,999
-
41,999
-
64,999
-
99,999
-
29,999
-
63,999
-
39,999
-
1,56,900
-
79,900
-
1,39,900
-
1,29,900
-
65,900
-
1,56,900
-
1,30,990
-
76,990
-
16,499
-
30,700
-
12,999
-
18,800
-
62,425
-
1,15,909
-
93,635
-
75,804
-
9,999
-
11,999
-
3,999
-
2,500
-
3,599