Shared News | 30 August 2018
National Company Law Tribunal (NCLT) has approved the merger of Idea Cellular and the Indian unit of Vodafone Group, according to television channels.
Idea, a part of the Aditya Birla conglomerate, and Vodafone signed a merger agreement last year, which could create the country’s biggest telecom operator.
The merger followed a broader trend by India’s network operators, who are rushing to consolidate amid a year-long price war sparked by the entry of billionaire Mukesh Ambani’s Reliance Jio.
Idea was not immediately reachable, while Vodafone had no immediate comment when contacted by Reuters.