3 telco Idea Cellular, which it expects to be closed by September 2018, Colao said at an analyst call on Tuesday. Vodafone India will receive Rs 3,850 crore if the tower deal gets completed before its merger with Idea Cellular.Colao said there was good progress on the Idea-Vodafone merger and it was moving quicker than expected. ‘We are making good progress in securing regulatory approvals for our merger with Idea Cellular and in monetising our tower asset. India’s telecom regulator has slashed the IUC to 6 paise a minute from 14 paise a minute effective October 1. Vodafone, Bharti Airtel and Idea Cellular have challenged the move in the Bombay High Court.

Source: Economic Times November 14, 2017 18:22 UTC