Vodafone is expected to hold around 47.5% stake in the merged entity and rest will be owned by Idea and promoter Aditya Birla Group. Photo: ReutersNew Delhi: The National Company Law Tribunal has approved the proposed merger between Vodafone India Ltd and Idea Cellular Ltd to create India’s largest mobile wireless company, the latter said in a filing to the stock exchanges on Friday. The merger will create the world’s second largest and India’s largest telco, overtaking Bharti Airtel Ltd. The merger agreement is based on equal rights and equal shareholding between Idea Cellular’s promoters and Vodafone Group. It can also contribute Rs2,500 crore more as debt into the merged entity.

Source: Mint January 12, 2018 10:41 UTC