Vodafone-Idea merger: Government gives final nod for the deal, to create India’s largest telecom operator

By: | Updated: July 26, 2018 4:07 PM

The government today gave final approval to the mega-merger of Vodafone and Idea Cellular which will create the country's largest mobile operator with 35 percent market share with around 430 million subscribers.

idea vodafone merger, idea vodafone merger details in hindi, idea vodafone merger status, idea vodafone merger new logo, vodafone idea merger latest news, vodafone idea merger name, business news in hindiShares of Idea Cellular rose by almost 4.6% on the BSE in early trade.

The government today gave final approval to the mega merger of Vodafone and Idea Cellular which will create the country’s largest mobile operator with 35 percent market share with around 430 million subscribers. The move comes just days after Idea Cellular and Vodafone India made a joint payment of Rs 7,268.78 crore ‘under protest’ to the Department of Telecom (DoT) for merging their mobile business.

A senior DoT official privy to the development said that the final approval has been accorded to the merger today and the entities will now approach Registrar of Companies (RoC) for stipulated filings of approvals, completing the last leg of formalities.

DoT gave conditional nod to the merger on July 9 and asked the two to meet the demand raised for taking the merger on record.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition