Friday, Jun 25, 2021 | Last Update : 02:23 AM IST

  Business   Companies  27 Mar 2018  Vodafone, Idea merger in final stage of approval: Telecom Secretary

Vodafone, Idea merger in final stage of approval: Telecom Secretary

PTI
Published : Mar 27, 2018, 12:43 pm IST
Updated : Mar 27, 2018, 12:43 pm IST

The mega merger has already received the green light from NCLT and markets regulator SEBI.

 The merger - slated to create India's largest telecom operator in terms of customer base and revenue market share. (Photo AFP)
  The merger - slated to create India's largest telecom operator in terms of customer base and revenue market share. (Photo AFP)

New Delhi: The merger plan of telecom operators Vodafone India and Idea Cellular is in the "final stage of approval", Telecom Secretary Aruna Sundararajan said on Tuesday.

The mega merger has already received the green light from NCLT and markets regulator SEBI, and according to Sundararajan, the telecom department "is in the process of expediting it".

 

She was speaking to reporters on the sidelines of a Cellular Operators Association of India (COAI) event catalysing 5G launch in the country.

Last week, Vodafone and Idea announced the leadership team for their soon-to-be-merged entity, with Kumar Mangalam Birla as the non-executive chairman and Balesh Sharma as the new CEO.

The merger - slated to create India's largest telecom operator in terms of customer base and revenue market share - is expected to be completed by June this year, subject to statutory approvals, the companies had stated. 

Tags: vodafone, idea, merger, telecom secretary, nclt, sebi
Location: India, Delhi, New Delhi