Idea Cellular Gains Slightly on DoT Approval for Merger with Vodafone | CORPORATE ETHOS

Idea Cellular Gains Slightly on DoT Approval for Merger with Vodafone

By: | July 27, 2018
VODAFONE-IDEA

MUMBAI: The Daprtment of Telecommunications have approved the merger of Vodafone India Ltd (VIL) and Vodafone Mobile Services Ltd (VMSL) with Idea Cellular Ltd.
The merger is subject to National Company Law Tribunal, Mumbai bench, passing the dissolution order of VMSL and VIL, which is expected shortly, according to a filing by Idea Cellular Ltd with NSE and BSE.
Idea Celluar Shares are up 1.93% to Rs 58.05 on Friday trading.The company had a negative performance in March quarter with loss of Rs 1862.90 cr and return on capital employed at lowest level of -2.38% for half year ending March 31. Net sales for the quarter had fallen 18.9% to Rs 6137.30 r.