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Business News

Aug 31, 2018
2:27PM

NCLT clears way for mega merger of Vodafone India and Idea Cellular

Representational pic
The mega merger of Vodafone India and Idea Cellular has been cleared by National Company Law Tribunal (NCLT), paving the way for the creation of India's largest telecom operator worth over 23 billion US dollar with a 35 per cent market share.


After merger, the current market leader Bharti Airtel will be dislodged from the pole position, by its sheer size and scale. The government had approved on 26th July the merger of Vodafone India and Idea after the two firms provided for over 7,248 crore rupees as one-time spectrum charge. 

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