Idea and Vodafone merge to create India's largest telecom operator
At present, Vodaphone is the second largest telecom operator in India, a slot behind Bharti Airtel.
The new entity will boast of around 40 crore customers or nearly one in every three customers in the country.
The combined entity of Aditya Birla group's Idea Cellular and Vodafone India will also have pan-India 3G/4G footprint, the companies said in a statement.
Vodafone will own 45.1 per cent of the merged entity, after it transfers about 4.9 per cent to promoters of Idea and/or their affiliates for Rs 38.74 billion ($592.15 million) in cash, Idea said.
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