Idea-Voda merger on track for completion: Vodafone India, CEO

India Infoline News Service | Mumbai | September 27, 2017 12:52 IST

The merger of Vodafone India and Idea Cellular is on track and is expected to be completed in the calender year 2018, reported a national news agency quoting Vodafone India MD and CEO, Sunil Sood. He was speaking on the sidelines of India Mobile Congress in New Delhi on Wednesday.

Men shaking hands
The merger of Vodafone India and Idea Cellular is on track and is expected to be completed in the calender year 2018, reported a national news agency quoting Vodafone India MD and CEO, Sunil Sood. He was speaking on the sidelines of India Mobile Congress in New Delhi on Wednesday.

Stating that the merger process goes through various stages, including approvals from the CCI, SEBI, NCLT and telecom department, Sood said, "We feel all of them are on track and in fact, we are going ahead of schedule".
 
Earlier this year, Vodafone India and Idea Cellular had agreed to merge their operations to create the country's largest telecom operator worth of more than USD 23 billion with a 35% market share.
 
Meanwhile, Idea Cellular was trading at Rs 75.40 per share, down by Rs 0.60 or 0.79% as at 1227 hours on Wednesday, on the BSE. The stock hit an intraday high and low of Rs 76.45 and Rs 75, respectively.

***Note: This is a NSE Chart

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