• Food & Lifestyle
  • Tech
  • Viral
  • Sci-Tech
  • Interview
  • Photos
  • Videos
  • Contact Us
Wednesday, February 20, 2019
Afternoon Voice
  • Top News
  • City News
    • Ahmedabad
    • Amritsar
    • Bangalore
    • Chandigarh
    • Chennai
    • Delhi
    • Hyderabad
    • Jaipur
    • Kolkata
    • Lucknow
    • Ludhiana
    • Mumbai
    • Nagpur
    • Nashik
    • Pune
    • Thane
  • Nation
    • Andhra Pradesh
    • Bihar
    • Chhattisgarh
    • Delhi & NCR
    • Goa
    • Gujarat
    • Jammu & Kashmir
    • Karnataka
    • Madhya Pradesh
    • Maharashtra
    • Northeast
    • Punjab & Haryana
    • Rajasthan
    • Tamil Nadu
    • Uttar Pradesh
    • West Bengal
    • Other States
  • World
    • Africa
    • Americas
    • Asia
    • Australia
    • Europe
    • Middle East
  • Business
    • Aviation
    • Banking & Finance
    • Budget & Policies
    • Economy
    • Companies
    • Market
    • Auto
    • Startup
    • Property
  • Sports
    • All
    • Badminton
    • Cricket
    • Football
    • Hockey
    • News
    • Others
    • Tennis

    Stoinis currently better than Hardik: Hayden

    My processes are working, I can trust my game: Rishabh Pant on Test cricket experience

    In-form Djokovic wins a fourth Laureus, Woods too among big winners

    CSK to take on RCB in opening IPL 2019

    Not going to torture myself if I’m not happy: Osaka on split with coach

    No cricketing ties with Pakistan until govt. nod: Rajiv Shukla

    I need funds to play more Int’l tournaments: Sourabh Verma

    Focus on Mandhana as Board President’s XI take on England eves in warm-up game

    Kohli maintains top spot in ICC Test batsmen chart, Pujara in 3rd spot

  • Entertainment
    • All
    • Bollywood
    • Hollywood
    • Review

    Rajkummar has the sweetest birthday wish for girlfriend Patralekhaa

    Didn’t want it to affect the film: Kriti on #MeToo allegations against Sajid, Nana

    Women pulling in 100 crore films, need equal pay: Pooja Hegde

    Lady Gaga, Christian Carino call off their engagement

    Meghan Markle celebrates her baby shower with friends

    ‘The Man in High Castle’ to end after Season 4

    Gwyneth Paltrow plans to stop playing Pepper Potts after ‘Avengers: Endgame’

    ‘Luka Chuppi’ and ‘Arjun Patiala’ to not release in Pakistan

    Chris Evans and Channing Tatum auditioned for ‘Avatar’, says James Cameron

  • Editorial
  • Opinion
    • Column
    • Diary
    • Letters
  • Epaper
No Result
View All Result
Afternoon Voice
No Result
View All Result

Home > Business > Idea-Vodafone complete merger to create India’s largest telecom operator

Idea-Vodafone complete merger to create India’s largest telecom operator

Afternoon Voice by Afternoon Voice
August 31, 2018
0

Idea Cellular Ltd and Vodafone Plc on Friday announced completion of the $ 23.2 billion (approximately Rs 1.6 lakh crore) merger of their India operations to create the country’s largest telecom operator to take on competition from Reliance Jio.

The merged entity, called Vodafone Idea Ltd, will have a subscriber base of over 40.8 crore and a market share of over 35 per cent, overtaking Bharti Airtel to take numero uno spot, the two firms said in a joint statement.

Kumar Mangalam Birla, chairman of the Aditya Birla Group that owned Idea Cellular, will be chairman of the new company that will have a 12-member board of directors, it said.

It has a right to appoint the chief financial officer, and the two firms have together chosen Balesh Sharma as the CEO of the new company.

RelatedPosts

Seeking partnerships to make aircrafts in India: Suresh Prabhu 

February 20, 2019

GST Council defers decision on tax on real estate and lottery for further discussion

February 20, 2019

Himanshu Kapania has stepped down as managing director of Idea Cellular, but will continue as a non-executive director on the merged entity’s board.

The merger puts Vodafone India and Idea in a strong position to cut costs and thus compete effectively with Reliance Jio. Savings from the deal are estimated at Rs 14,000 crore.

Telecom sector has witnessed consolidation aimed at finding economies of scale after Reliance Jio ploughed USD 25 billion into a pan-India national 4G data service, offering free voice call and tariffs well below prevailing rates. Jio has amassed 230 million subscribers in two years of its launch.

Bharti Airtel fired the starting gun with the acquisition of the Indian business of Norway-based Telenor. It subsequently took over consumer mobile businesses of Tata Teleservices Ltd (TTSL) and Tata Teleservices Maharashtra Ltd (TTML).

Mobile markets in several parts of the world have been rocked by cheap upstarts, including T-Mobile in the US, Iliad in France and Hong Kong group CK Hutchison’s Three unit in other European markets.

“Today, we have created India’s leading telecom operator. It is truly a historic moment. And this is much more than just about creating a large business. It is about our vision of empowering and enabling a new India and meeting the aspirations of the youth of our country,” said Birla.

The deal gives Vodafone India an implied enterprise value of Rs 82,800 crore and Idea an enterprise value of Rs 72,200 crore. Vodafone will own 45.1 per cent of the new business while the Aditya Birla Group, Idea’s parent company, will own 26 per cent after paying Rs 3,900 crore cash for a 4.9 per cent stake.

Vodafone Idea will have a pan India revenue market share of 32.2 per cent and the No.1 position in 9 circles, the statement said.

It will have over 3,40,000 broadband sites covering 84 crore Indians, largest voice network with over 2,00,000 unique GSM sites to cover over 1.2 billion Indians (92 per cent population coverage), large spectrum portfolio of 1,850 MHz and an adequate number of broadband carriers to provide superior consumer experience across 2G, 3G and 4G platforms, and widest distribution network with over 1.7 million retailers and 15,000 branded stores to service customers.

Tags: Reliance JioVodafone
Previous Post

Govt dismisses rumours says, bank branches to remain open next week

Next Post

RBI deputy governor Kanungo worried about increasing debt levels of states

Afternoon Voice

Afternoon Voice

Related Posts

Aviation

Seeking partnerships to make aircrafts in India: Suresh Prabhu 

by Web Team
February 20, 2019
Budget & Policies

GST Council defers decision on tax on real estate and lottery for further discussion

by Web Team
February 20, 2019
Business

E-commerce FDI policy changes haven’t shaken confidence in India: Walmart

by Web Team
February 20, 2019
Business

India an investment priority for Saudi Aramco: CEO Amin Nasser

by Web Team
February 20, 2019
Business

FDI during Apr-Dec 2018-19 falls 7% to $33.49 bn

by Web Team
February 20, 2019
Business

Anil Ambani, others guilty of contempt; SC says 3 months jail if dues not paid to Ericsson

by Web Team
February 20, 2019
Business

Rahul meets small and medium traders; discusses GST

by Web Team
February 19, 2019
Business

India’s fuel demand rose 6.4% year-on-year in January

by Web Team
February 19, 2019
Next Post

RBI deputy governor Kanungo worried about increasing debt levels of states

RInfra bags Rs 1,907 crore contract for Nagpur-Mumbai expressway

Modi govt selling cheap petrol, diesel to foreign nations: Cong

  • Trending
  • Comments
  • Latest

Ulhasnagar Sindhis drifting away from Hinduism

December 28, 2018

Swami Nithyananda assures No More Blinds!

January 24, 2019

Sex rackets in the name of Friendship club

April 27, 2017

Trolls to true followers triumph Swami Nithyananda

January 24, 2019

Man sets afire 40-year-old woman, her 2 kin; 1 dies

13

21-year-old girl tries to sell kidney to meet demand of her lover, saved

10

Man’s hand chopped off in MP for enquiring about missing cow

10

The silent Hindu resurgence in Kerala

6

Horrible, says Donald Trump on Pulwama attack; sends a message to Pak

February 20, 2019

Taiwan’s Tsai says no peace deal with China unless force ruled out

February 20, 2019

Putin promises Russians better living conditions ‘within this year’

February 20, 2019

6 dead in Malaysia karaoke fire

February 20, 2019

Poll

[totalpoll id=”193931″]

ADVERTISEMENT
  • Army Major Bisht killed in IED explosion was to tie the knot next month

    0 shares
    Share 0 Tweet 0
  • BJP’s double standards exposed on #Article370

    0 shares
    Share 0 Tweet 0
  • Swami Nithyananda assures No More Blinds!

    0 shares
    Share 0 Tweet 0
  • Dawood gives a portion of his narco-money to Jihadist-Islamist groups — Part II

    0 shares
    Share 0 Tweet 0
  • Article 370 should be removed in J&K, BJP leader urged PM

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
Afternoon Voice

Copyright © 2018 Afternoon Voice.

Navigate Site

  • Disclaimer
  • Privacy Policy
  • About Us
  • Contact Us
  • Support Parallel Media

Follow Us

No Result
View All Result
  • Top News
  • City News
    • Ahmedabad
    • Amritsar
    • Bangalore
    • Chandigarh
    • Chennai
    • Delhi
    • Hyderabad
    • Jaipur
    • Kolkata
    • Lucknow
    • Ludhiana
    • Mumbai
    • Nagpur
    • Nashik
    • Pune
    • Thane
  • Nation
    • Andhra Pradesh
    • Bihar
    • Chhattisgarh
    • Delhi & NCR
    • Goa
    • Gujarat
    • Jammu & Kashmir
    • Karnataka
    • Madhya Pradesh
    • Maharashtra
    • Northeast
    • Punjab & Haryana
    • Rajasthan
    • Tamil Nadu
    • Uttar Pradesh
    • West Bengal
    • Other States
  • World
    • Africa
    • Americas
    • Asia
    • Australia
    • Europe
    • Middle East
  • Business
    • Aviation
    • Banking & Finance
    • Budget & Policies
    • Economy
    • Companies
    • Market
    • Auto
    • Startup
    • Property
  • Sports
  • Entertainment
  • Editorial
  • Opinion
    • Column
    • Diary
    • Letters
  • Epaper

Copyright © 2018 Afternoon Voice.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.