News Telecom Department Clears Idea-Vodafone Merger With Riders


The telecom ministry today approved the merger of Vodafone India and Idea Cellular Ltd. that will create the country's largest mobile services operator, an official source said.
DoT has cleared the Vodafone-Idea merger today, but both companies will have to meet conditions for final approval, the official told PTI.
The department has asked Idea Cellular to pay Rs 3,926 crore in cash for Vodafone spectrum and furnish a bank guarantee of Rs 3,342 crore, the source further said.

Full article: Vodafone-Idea Merger: Telecom Department Clears Idea-Vodafone Merger With Conditions - Bloomberg Quint