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India: Merger with Idea Cellular will complete in 2018

By  |  September 27, 2017

The Vodafone-Idea merger would get completed ahead of its time in 2018, Vodafone India head, Sunil Sood said on Wednesday, September 27.

Meanwhile, Idea Cellular has also called for a meeting on October 12 of its shareholders, secured and unsecured creditors according to the directives of National Company Law Tribunal (NCLT) to seek the approval for the alliance of the telecom operator with Vodafone India.

The merger will facilitate VIL and VMSL’s (Vodafone Mobile Services Ltd.) entire business to be vest in the company, excluding VIL’s 42% share in Indus Towers. The merger will come into effect after new shares are issued in Idea to Vodafone and would result in Vodafone deconsolidating Vodafone India.

Full Content: Economic Times

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