Idea Cellular today approved its amalgamation with Vodafone India and Vodafone Mobile Services. Idea said, in a regulatory filing, that the board of directors of Idea Cellular at its meeting held today approved the scheme of amalgamation of Vodafone India Limited (VIL) and its wholly owned subsidiary Vodafone Mobile Services Limited (VMSL) with the company.
The transaction is subject to necessary approvals from concerned authorities, including SEBI, Department of Telecom, RBI and others. The Idea-Vodafone merger will create the country’s biggest telecom services provider with a customer base of over 394 million.
