The telecom department (DoT) is likely to approve on Monday (June 18), the merger of Vodafone India and Idea Cellular that will create the country’s largest mobile service operator with proposed name of Vodafone Idea. “DoT is expected to clear the Vodafone-Idea merger on Monday (June 18). The certificate will be handed to them,” an official source told PTI.
Idea and Vodafone have decided to combine their operations to create the country’s largest telecom operator worth over US$23 billion, with a 35% percent market share and a subscriber base of around 430 million.
The proposed merger is expected to give a breather to both debt-ridden firms Idea and Vodafone, from cut-throat competition in the market where margins have hit rock bottom with free voice calls.
Full Content: Bloomberg
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