The Competition Commission of India (CCI) on Monday unconditionally approved the merger of Vodafone India and its wholly-owned subsidiary Vodafone Mobile Services, with Idea Cellular, paving way for the creation of an entity that will overtake market leader Bharti Airtel. Both the operators had moved the CCI in April.The two still require the approval of capital markets regulator Sebi, the National Company Law Tribunal, stock exchanges and the department of telecommunications to complete the transaction.On March 20, Vodafone and Idea had announced their merger plans, which will create an entity with revenues of Rs 80,000 crore. Once the merger is complete, the combined entity will be the largest in terms of subscribers (over 407 million), subscriber market share (almost 34.50%), revenue market share (41%), spectrum holdings (1850 Mhz). The current market leader Bharti has over 278.60 million subscribers, 23.59% subscriber market share (SMS), around 35.6% revenue market share (RMS) and 1489 Mhz of spectrum holdings. Service area-wise the split will be 50:50 with the combined entity having the top RMS in 11 circles and coming second to Bharti in the other 11. The merged entity’s Ebitda is likely to improve by 25-30% on the back of lower costs.