Idea-Vodafone Merger Said to Be Approved by NCLT

Shared News | 30 August 2018
National Company Law Tribunal (NCLT) has approved the merger of Idea Cellular and the Indian unit of Vodafone Group, according to television channels.

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Idea, a part of the Aditya Birla conglomerate, and Vodafone signed a merger agreement last year, which could create the country’s biggest telecom operator.

 

The merger followed a broader trend by India’s network operators, who are rushing to consolidate amid a year-long price war sparked by the entry of billionaire Mukesh Ambani’s Reliance Jio.

Idea was not immediately reachable, while Vodafone had no immediate comment when contacted by Reuters.