After eight months of hectic parleys, Britain’s Vodafone Group’s Indian subsidiary and Aditya Birla Group’s Idea Cellular have taken a step closer to a mega merger that would create a new market leader better able to contest a brutal price war with 42 per cent market share. Both the companies would hold equal stake in the merged entity and an announcement would be made as early as this week, a source said.
Vodafone, the world’s second-largest cellphone networks operator, has agreed to Birla’s demand that Kumar Mangalam Birla would become the chairman of the merged entity. The equity value of both the companies has been estimated at Rs 40,000 crore each while the combined entity would have debt of approximately Rs 89,000 crore.
Vodafone Store in Ambadi Road, Vasai West Contact Details
Address: Shop no 17, Maurya Shopping Centre CHS, Amabdi Rd, Next Cosmos Bank, Vasai West, Vasai, Maharashtra 401202
Phone: 098230 98230
Timings: 10:00 am to 7:00 pm
Weekly Off: Sunday
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