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Idea and Vodafone India merger to close by April, 2018; six months ahead of schedule

December 06, 2017

Idea and Vodafone merger is likely to close earlier than expected, by as much as six months before the September 2018 timeline suggested earlier. According to the Bank of America-Merrill Lynch, all the necessary approvals for the merger are expected to come in by April 2018.

Vodafone India and Idea Cellular, the country’s second and third-largest telecom operators, are merging their businesses. The merged entity will create India’s biggest telecom company with over 400 million customers.

Approvals from the court and Department of Telecommunications (DoT) are pending, while the anti-trust body has already granted approval. The merged entity will bring about an initial cost savings of Rs 27 billion by halving tenancies in some 70,000-odd overlapping sites.

 
 

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