Voda-Idea merger announced
Mumbai: The merger between Idea Cellular and Vodafone has been formally announced, say media report.
Idea said that its board has approved scheme of amalgamation of Vodafone India and its unit Vodafone Mobile Services with company.
The combined entity will be the biggest telecom operator in India.
Earlier, it was reported that Vodafone was sticking to its demand for both the CEO and CFO positions in the merged entity, and will be happy with Kumar Mangalam Birla being named chairman.
More details about the deal are awaited. —