The boards of Aditya Birla Group and Vodafone Group have approved a merger between Idea Cellular and Vodafone India Ltd.
The merged company will be the largest with about 387 million users in the country. At present, Vodafone India is the country’s second-largest operator by users and Idea Cellular the third largest operator.
Vodafone India will own 45.1 percent stake in the merged entity. Promoters of Idea will hold 26 per cent stake in the company and the remaining will be held by the public.
Takeaways from above news-
- Idea Cellular is owned by Aditya Birla Group
- Headquarter of Idea Cellular Limited is in Mumbai
- CEO of Aditya Birla Group is Santrupt Misra
- CEO of Mumbai Headquartered Vodafone India is Sunil Sood.
Source- The Hindu