Vodafone-Idea merger gets final nod from govt
The Central government on Thursday gave final approval to the mega merger of Vodafone and Idea Cellular, news agency PTI reported.
The new entity will create India’s largest mobile operator with 35 per cent market share with around 430 million subscribers.
The report quoted a senior DoT official, privy to the development, as saying that the final approval was accorded to the merger on Thursday and the entities will now approach Registrar of Companies (RoC) for stipulated filings of approvals, completing the last leg of formalities.
The move comes just days after Idea Cellular and Vodafone India made a joint payment of Rs 7,268.78 crore 'under protest' to the Department of Telecom (DoT) for merging their mobile business.
DoT gave conditional nod to the merger on July 9 and asked the two to meet the demand raised for taking the merger on record.
(With agency inputs)
