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Vodafone-Idea Merger in Final Stage of Approval: Tel Secy

By Staff
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The merger plan of telecom operators Vodafone India and Idea Cellular is in the "final stage of approval", Telecom Secretary Aruna Sundararajan said today. The mega-merger has already received the green light from NCLT and markets regulator SEBI, and according to Sundararajan, the telecom department "is in the process of expediting it".

Vodafone-Idea Merger in Final Stage of Approval: Tel Secy
 

She was speaking to reporters on the sidelines of a Cellular Operators Association of India (COAI) event catalysing 5G launch in the country.

Last week, Vodafone and Idea announced the leadership team for their soon-to-be-merged entity, with Kumar Mangalam Birla as the non-executive chairman and Balesh Sharma as the new CEO. The merger - slated to create India's largest telecom operator in terms of customer base and revenue market share - is expected to be completed by June this year, subject to statutory approvals, the companies had stated.

Source: PTI

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