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What an Idea! Merger with Voda makes it top mobile operator
British telecom giant Vodafone and Kumar Mangalam Birla-owned Idea Cellular announced the all-share merger deal on Monday, creating the largest mobile operator by customer and revenue market share in the country. The mega entity is expected to create a telecom giant with its wide-ranging implications for the industry, services, the staff and consumers.
“The merged entity will be jointly controlled by Vodafone and the Aditya Birla group as per shareholders’ agreement,” said Idea and Vodafone in a joint statement.
As telecom industry is on consolidation move, besides this merger, its competitor Bharti Airtel has already bought Indian assets of Telenor, while Reliance Communication, Aircel, Tata Teleservices and MTS are in talks for merger.
Voda-Idea telecom giant will be headed by Kumar Mangalam Birla as Chairman and is expected to come into force over the next two years. Vodafone will have its nominee as the Chief Financial Officer, according to its Chief Executive Officer Vittorio Colao.
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Sunday EditionView All
19 Mar 2017 | Rajesh Singh
Is the marginalisation of the two caste-based parties in Uttar Pradesh a harbinger of change — from identity politics to the politics of development? If we take the 2014 and 2017 elections together, that does seem to be the suggestion, writes RAJESH SINGH Understanding an election result as monumental as that of Uttar Pradesh is akin to unravelling a deep thriller plot. The why, when, where, how and what — this...
STATE EDITIONSView All
25 Mar 2017 | PNS | Lucknow
Chief Minister Adityanath Yogi carried out a minor reshuffle in five ministers on Friday. A government spokesman said that Labour minister Swamy Prasad Maurya has been given additional charge of Co-ordination ministry while he has been divested of Urban employment and poverty alleviation and the charge of these ministries have been given to Urban Development minister Suresh Khanna...