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India: Idea seeks NCLT approval for Vodafone merger

By  |  August 9, 2017

Idea Cellular has approached the National Company Law Tribunal (NCLT) in Ahmedabad, seeking its approval for the mobile company’s merger with Vodafone India and Vodafone Mobile Services.

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    Idea filed the application on Monday after the merger proposal received clearances from the Competition Commission of India and the Securities and Exchange Board of India, the company said in a notice to stock exchanges.

    The US$23 billion merger, if completed, would create India’s largest telecom firm that would be better placed to take on the threat posed by Reliance Jio Infocomm.

    Full Content: Deccan Herald

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