Technoglitch
Core Member
Britain's Vodafone Group and Idea Cellular agreed on Monday to merge their Indian operations to create the country's biggest telecoms business in a bid to contest a brutal price war sparked by new rival Reliance Jio.
The combined Vodafone-Idea group would have almost 400 million customers, or 35 percent market share, with an implied enterprise value of Rs. 82,800 crore for Vodafone and Rs. 72,200 crore for Idea.
"The combined entity will become the leading challenger with the scale to compete more effectively," Idea said in the statement.
Mobile industry in India was thrown into turmoil with the launch last year of Reliance Jio Infocomm, the new 4G mobile broadband network built at a cost of more than $20 billion by India's richest businessman, Mukesh Ambani, as part of his Reliance Industries conglomerate.
Vodafone, Idea Merger To Create New Market Leader, Displacing Airtel – NDTV Profit
The combined Vodafone-Idea group would have almost 400 million customers, or 35 percent market share, with an implied enterprise value of Rs. 82,800 crore for Vodafone and Rs. 72,200 crore for Idea.
"The combined entity will become the leading challenger with the scale to compete more effectively," Idea said in the statement.
Mobile industry in India was thrown into turmoil with the launch last year of Reliance Jio Infocomm, the new 4G mobile broadband network built at a cost of more than $20 billion by India's richest businessman, Mukesh Ambani, as part of his Reliance Industries conglomerate.
Vodafone, Idea Merger To Create New Market Leader, Displacing Airtel – NDTV Profit
