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Vodafone-Idea merger deal to be officially announced this week: Report

BGR India Tuesday, 14 March 2017 ()
The mega-merger of Vodafone India and Idea Cellular is reportedly set to be officially announced this week. According to reports, the 21 billion euro deal will see the two companies holding an equal stake and result in Vodafone de-consolidating its India arm. The merger is seen as the first casualty resulting out of Reliance Jio’s commercial rollout in late last year that has put incumbent players under immense pressure to offer more affordable plans to consumers. Following the merger, Vodafone India and Idea Cellular would together create a new entity that will be able to compete better in the price war triggered by the entry of Reliance Jio. It is expected that the resulting merged entity will be headed by
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Source: Euronews English - < > Embed

News video: Vodafone to merge Indian business with local rival Idea

Vodafone to merge Indian business with local rival Idea 00:45

A huge telecoms merger has been announced in India. Britain’s Vodafone is joining with Idea Cellular in a deal worth the equivalent of 21.3 billion euros. Together they will become India’s biggest telecoms business with almost 400 million customers, overtaking the market leader Bharti Airtel. The...

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