Vodafone’s Indian Unit Merges with Idea, to Become India’s Largest and World’s Second Largest Telecom Operator
March 21 , 2017
As per reports, UK telecoms giant Vodafone merged its Indian unit with Idea Cellular to become the largest telecom operator in the country and the second largest company in the world.
The firm reportedly mentioned that the combined company is going to have around 400 million customers, and will have 35% of the market share.
Following the announcement of the deal, shares of Idea rose almost 4% in Mumbai.
According to analysts, the merger would help in competing against the new operator, Reliance Jio.
Reports also say that over 10 telecom operators are struggling to attract India’s one billion mobile phone users.