Vodafone-Idea merger complete, replaces Airtel to become largest telco in India

A day after the National Company Law Tribunal (NCLT) approved the merger of Vodafone India and Idea Cellular, Aditya Birla Group on Friday announced that they have completed the merger to create country’s largest telecom company.

The combined entity has replaced Airtel as India’s largest telecom company.

Vodafone India and Aditya Birla Group-promoted Idea Cellular on March 20, 2017 had announced their much-awaited amalgamation.

Aditya Birla Group Chairman Kumar Mangalam Birla will be the Non-Executive Chairman of the merged company, while the current Chief Operating Officer of Vodafone India, Balesh Sharma will become the Chief Executive.

Vodafone Idea now has a subscriber base of over 400 million and a market revenue share of 32.2 percent.

By EP Web Desk