Idea-Vodafone merger becomes a reality

Mumbai: Britain's Vodafone Group will merge its Indian subsidiary with Idea Cellular within two years, Idea announced on Monday. As per the merger plans, Vodafone will own 45.1% the entity, after it transfers about 4.9% to promoters of Idea for Rs 38.74 billion, Idea said. The combined Vodafone-Idea group will be India's largest telecom operation with almost 400 million customers, or 35% market share. The chairman post will go for Idea while Chief Executive Officer and Chief Operating Officer will be determined by both companies.

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