In a BSE filing, Idea Celluar announced its approval of amalgamation of Vodafone India Ltd (VIL)
Breaking News - In a BSE filing, Idea Celluar announced its approval of amalgamation of Vodafone India Ltd (VIL) and its wholly owned subsidiary Vodafone Mobile Services Limited (VMSL) with the company subject to receipt of necessary approvals of shareholders, creditors, SEBI, RBI and other governmental authorities.Idea Vodafone Merger.
Idea Cellular gained nearly 15% in first 5 minutes of the trade but later pared some gains to trade 6% higher after media reports that the company has approved merger with Vodafone India. According to reports, Idea Cellular will hold 25% stake in the merged company.
Idea Cellular gained nearly 15% in first 5 minutes of the trade but later pared some gains to trade 6% higher after media reports that the company has approved merger with Vodafone India. According to reports, Idea Cellular will hold 25% stake in the merged company.
Idea-Vodafone merger: What it means for telecom stocks and who gains most
According to the release, the Idea Board believes the proposed amalgamation will result in:
A. Creation of largest Indian telecom operator with widest mobile network in the country and pan India 3G/4G footprint
B. Sufficient spectrum to complete with major operators in the market while offering innovative priced mobile services to customers;
C. Acceleration of expansion of wireless broadband networks (read more...)
B. Sufficient spectrum to complete with major operators in the market while offering innovative priced mobile services to customers;
C. Acceleration of expansion of wireless broadband networks (read more...)
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