Jan 15: With the merger of telecom companies Vodafone and Idea Cellular in the offing, it is already a known fact that the combined entity would jointly have over 400 million mobile subscribers and together account for the largest share of the Indian telecom segment.
Latest reports said that the combined entity would look to start its operations from April. The National Company Law Tribunal had last week okayed the proposed merger between the two companies, which gave Idea Cellular and Vodafone confidence to move ahead towards the possible deal at a faster pace.
Following the NCLT approval, Idea Cellular and Vodafone India would now look forward to an approval for merger from the Department of Telecom.
The two companies which occupy the second and third positions in the Indian telecom marketplace, will push Bharti Airtel down below them when the deal comes through.
It is being reported that the Vodafone India -Idea Cellular merger will give shape to an entity worth around Rs 775-800 billion in revenues. Post transaction, Vodafone India will own 45.1 per cent stake in the merged entity. Shareholders will have 28.9 per cent.