Sign in to follow this  

Vodafone, Idea Cellular announce merger to create India’s largest telco

Recommended Posts

Tuskd    1,456
Quote

New Delhi: India’s Idea Cellular Ltd and Vodafone India Ltd on Monday said that their respective boards have approved their merger, excluding Vodafone’s 42% stake in Indus Towers Ltd, to create India’s largest telecom company with a total revenue of over Rs80,000 crore.

In the beginning, Vodafone will be a dominant partner in the merged entity with 45.1% stake after it will transfer a stake of 4.9% to the Aditya Birla group for Rs3,874 crore in cash to complete the merger. Aditya Birla group will then own 26% stake in the company but it will have the right to acquire more shares from Vodafone under an agreed mechanism with a view to equalize the shareholding over time.

Source: http://www.livemint.com/Industry/4Uzl9W0xijFqmxGRIEwfpM/Vodafone-Idea-Cellular-announce-merger.html

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.