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DTHForum Xclusive NCLT approves Idea-Vodafone merger

Discussion in 'Idea Cellular Limited' started by adithya, Jan 12, 2018.

  1. adithya

    adithya Moderator
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    NEW DELHI: The National Company Law Tribunal has approved the proposed merger between Idea CellularBSE 1.35 % and Vodafone -- a move that brings both the companies closer to culminating the deal.

    "We wish to inform you that the Hon'ble National Company Law Tribunal, bench at Ahmedabad, vide its order dated January 11, 2018 has sanctioned the composite scheme of amalgamation and arrangement among Vodafone Mobile Services Limited and Vodafone India Limited and Idea Cellular Limited...," Idea Cellular said in a regulatory note today.

    Both the groups can go ahead for the final approval for merger from the Department of Telecom after Vodafone's appeal for the scheme also gets NCLT Nod

    As per latest data published by sector regulator Trai, Idea and Vodafone jointly have over 40 crore mobile subscribers and together account for largest share in the Indian telecom segment.

    Vodafone is expected to hold around 47.5 per cent stake in the merged entity and rest will be owned by Idea and promoter Aditya Birla Group.

    The proposed merger of Vodafone India and Idea will create an entity with a revenue of around Rs 77,500-80,000 crore besides eliminating duplication of spectrum and infrastructure capex, as per India Ratings and Research.

    Further, the spectrum of Vodafone India in seven circles and that of Idea in two, whose permits are expiring in 2021- 22, is together valued at around Rs 12,000 crore as per last auction price. These permits are not in common circles, and hence there could be potential spectrum capex synergies between the two companies, as per the rating agency.


    Idea-Vodafone merger: NCLT approves Idea-Vodafone merger - The Economic Times
     
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  2. IndianMascot

    IndianMascot Global Moderator
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    That's good. But it's a long way to go
     
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  3. Aviral Sangal

    Aviral Sangal DFI Riser
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    On approvals front, only 2 are left. 1st nclt approval to vodafone and 2nd DOT. But the biggest hurdle will be merging of backend and technologies. Initially after merger, there will be loads of teething problems.

    Sent from my Redmi Note 4 using Tapatalk
     
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