GET Stock QuotesNews18 APP
News18 English
»
1-min read

Govt Gives Final Nod to Vodafone-Idea Merger; to be India's Largest Operator

Idea Cellular and Vodafone India made a joint payment of Rs 7,268.78 crore 'under protest' to the Department of Telecom (DoT) for merging their mobile businesses.

PTI

Updated:July 26, 2018, 3:53 PM IST
facebookTwittergoogleskypewhatsapp
Govt Gives Final Nod to Vodafone-Idea Merger; to be India's Largest Operator
File photo: A hotel employee clears a table after Vodafone Group and Idea Cellular news conference in Mumbai. (Image: Reuters)
Loading...
New Delhi: The government on Thursday gave final approval to the mega merger of Vodafone and Idea Cellular which will create the country's largest mobile operator with 35 per cent market share and around 430 million subscribers.

The move comes just days after Idea Cellular and Vodafone India made a joint payment of Rs 7,268.78 crore 'under protest' to the Department of Telecom (DoT) for merging their mobile businesses.

A senior DoT official privy to the development said that the final approval has been accorded to the merger on Thursday and the entities will now approach Registrar of Companies (RoC) for stipulated filings for approval, completing the last leg of formalities.

DoT gave conditional nod to the merger on July 9 and asked the two firms to meet the demand raised for taking the merger on record.
| Edited by: Naqshib Nisar
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Reliance 1,139.75 1.17
ICICI Bank 313.35 -1.89
IndusInd Bank 1,626.95 -1.56
Dewan Housing 281.60 -3.64
HDFC Bank 2,008.05 1.32
Company Price Change %Gain
Dewan Housing 281.35 -4.14
Lupin 880.45 4.15
Yes Bank 245.90 -0.32
Reliance 1,139.80 1.19
HUL 1,526.60 -2.68
Top Gainers
Company Price Change %Gain
Dr Reddys Labs 2,566.85 4.75
Cipla 647.85 4.01
Infosys 698.80 2.95
ITC 282.50 2.65
BPCL 296.35 2.58
Company Price Change %Gain
Infosys 699.10 2.95
ITC 281.60 2.51
ONGC 160.00 1.78
TCS 1,949.15 1.60
Sun Pharma 599.50 1.50
Top Losers
Company Price Change %Gain
Bajaj Finserv 5,634.25 -3.08
HUL 1,526.30 -2.76
HPCL 212.50 -2.70
M&M 749.00 -2.54
GAIL 351.05 -2.30
Company Price Change %Gain
HUL 1,526.60 -2.68
M&M 748.60 -2.63
ICICI Bank 313.20 -1.76
Vedanta 210.95 -1.52
Axis Bank 575.85 -1.51

Live TV

Loading...
Loading...