Idea Cellular has approached the National Company Law Tribunal (NCLT) in Ahmedabad, seeking its approval for the mobile company’s merger with Vodafone India and Vodafone Mobile Services.
Idea filed the application on Monday after the merger proposal received clearances from the Competition Commission of India and the Securities and Exchange Board of India, the company said in a notice to stock exchanges.
The US$23 billion merger, if completed, would create India’s largest telecom firm that would be better placed to take on the threat posed by Reliance Jio Infocomm.
Full Content: Deccan Herald
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
