Since early this year, we are hearing about the merging deal between Vodafone India and Idea Cellular but there was no official works. Later Vodafone India confirmed the merger deal, and now both the operators officially announced the merger to become the largest telecom operator in the country.
Since the launch of Jio, all the telecom operators of the country faced massive competition and this maybe one of the main reason behind this merging. The new merger deal will make the operator largest telecom operator in the country, not only in the base of subscribers but also in terms of revenue and towers.
The merger will be reported to be a joint venture, and with the deal Vodafone India will have a share of 45.1 per cent and the Idea Cellular will have 26 per cent of share. And the remaining share of 28.9 per cent, will be retained to the other shareholders of the Idea.
After the procedure of the deal, Mr. Kumar Mangalam Birla will be seated on the chair of chairman, Vodafone will have the power to decide and appoint CEO and CFO of the joint venture within from Vodafone and the merger deal is expected to finish by the end of calendar year of 2018.
So, let’s see how the new merging will benefit to the users. Share your thoughts about the deal in the comment box below.
Also check out our article on Vodafone expands private recharge mode in Maharashtra and Goa. And many other interesting news and tips & tricks on our website.