Back in last year, it was reported that Vodafone India and Idea cellular will merge, and since then, we are hearing lots of rumors. We also heard that there are some restrictions to merge but the officials confirmed to merge. Well, now today the company has confirmed that both Vodafone India and Idea Cellular merged completely and the new entity will be called Vodafone Idea Limited. That said, this makes the company the largest telecom operator in India.
Through a press release, Vodafone confirmed the merge and the new Vodafone Idea Limited will be led by Balesh Sharma as the CEO and Kumar Mangalam Birla as the Chairman and a member of the Board of Directors. Having said that, this merger makes the company the largest telecom operator in India with a subscriber base of more than 408 Million.
Furthermore, the company said in the press release that it is expected to generate annual Synergy of ₹140 Billion with a net present value of approx ₹700 Billion.
Well, the merger will also give a great experience to the users as it will enhance the coverage as well as a quality and the company can also give more offers which will attract more customers. That means now the users will get a good network and also the company can able to reach more space in the country.