Vodafone India $23 billion merger with Idea Cellular

Overview:

• Vodafone India has undertaken a $23 billion merger with Idea Cellular, a Mumbai-based mobile network operator.  
• The merger has been approved by India's antitrust regulators and the combined entity is set to become the country's largest telecom player.
• Vodafone will own 45.1% of the newly merged company, and the firm has transferred a 4.9% stake to Aditya Birla Group. 
• Aditya will hold 26% and Idea the remaining 28.9%. 

Wai Yee Tsang - Journalist