New Delhi: The Competition Commission of India (CCI) on Monday unconditionally approved the merger of the telecommunications businesses of Vodafone India, with Idea Cellular. The $23 billion transaction is the largest transaction by value in the history of Indian M&A.
CCI carried out a comprehensive review of the transaction and concluded that there was no appreciable adverse effect on competition from the proposed merger, and approved the transaction in Phase 1 (within 30 working days as provided by the Competition Act).
The telecommunications sector in India is witnessing significant consolidation after the entry of Reliance Jio last year. This merger will allow the parties to invest more significantly in improving coverage and capacity in telecom infra, thereby enabling Vodafone-Idea to offer a better, more innovative and attractive range of services.