Home / news / Vodafone, Idea in $23 billion deal to create new Indian telecom leader quoting : Reuters

Vodafone, Idea in $23 billion deal to create new Indian telecom leader quoting : Reuters

according to DEAL CONTOURSUnder the deal, Vodafone will own 45.1 percent of the merged entity, after it transfers about 4.9 percent to promoters of Idea or their affiliates for 38.74 billion rupees ($592.15 million) in cash, Idea said.
REUTERS/Danish SiddiquiKumar Mangalam Birla (L), chairman of Aditya Birla Group, shakes hands with Vittorio Colao, CEO of Vodafone Group, after a news conference in Mumbai, India March 20, 2017.
REUTERS/Shailesh Andrade/File PhotoKumar Mangalam Birla (L), chairman of Aditya Birla Group, listens to Vittorio Colao, CEO of Vodafone Group, during a news conference in Mumbai, India March 20, 2017.
Aditya Birla Group, the majority owner of Idea, will own 26 percent while other shareholders will own the remaining 28.9 percent.
REUTERS/Danish Siddiqui/File PhotoFILE PHOTO: A man casts silhouette onto an electronic screen displaying logo of Vodafone India after a news conference to announce the half year results in Mumbai, India, November 10, 2015.

Vodafone, Idea in $23 billion deal to create new Indian telecom leader

referring to REUTERS/Danish SiddiquiKumar Mangalam Birla (L), chairman of Aditya Birla Group, listens to Vittorio Colao, CEO of Vodafone Group, during a news conference in Mumbai, India March 20, 2017.
Kumar Mangalam Birla (L), chairman of Aditya Birla Group, shakes hands with Vittorio Colao, CEO of Vodafone Group, after a news conference in Mumbai, India March 20, 2017.
“Idea is strong where Vodafone is weaker, Vodafone is strong where Idea is weaker.”
REUTERS/Danish SiddiquiMUMBAI Britain’s Vodafone Group and Idea Cellular agreed on Monday to merge their Indian operations in a $23 billion deal, creating the country’s biggest telecoms business after the entry of a new rival sparked a brutal price war.
Aditya Birla Group, the majority owner of Idea, will own 26 percent while other shareholders will own the remaining 28.9 percent.

referring to

Vodafone, Idea in $23 billion deal to create new Indian telecom leader

DEAL CONTOURSUnder the deal, Vodafone will own 45.1 percent of the merged entity, after it transfers about 4.9 percent to promoters of Idea or their affiliates for 38.74 billion rupees ($592.15 million) in cash, Idea said.
REUTERS/Danish SiddiquiKumar Mangalam Birla (L), chairman of Aditya Birla Group, shakes hands with Vittorio Colao, CEO of Vodafone Group, after a news conference in Mumbai, India March 20, 2017.
REUTERS/Shailesh Andrade/File PhotoKumar Mangalam Birla (L), chairman of Aditya Birla Group, listens to Vittorio Colao, CEO of Vodafone Group, during a news conference in Mumbai, India March 20, 2017.
Aditya Birla Group, the majority owner of Idea, will own 26 percent while other shareholders will own the remaining 28.9 percent.
REUTERS/Danish Siddiqui/File PhotoFILE PHOTO: A man casts silhouette onto an electronic screen displaying logo of Vodafone India after a news conference to announce the half year results in Mumbai, India, November 10, 2015.

collected by :Sofia Iden

visit us automotive

Check Also

picture.jpg

Global Automotive Passive Safety System Market

The report, Global Automotive Passive Safety System Market 2017-2021, has been prepared based on an …