New Delhi: After the companies- Idea and Vodafone stated that they are combining which will perhaps be the largest consolidation move in Indian telecoms both will continue to operate as separate brands in India.
Vodafone further stated that the continuing negotiations over a tax dispute with the Indian government will have no bearing on the merger with idea.
Vodafone Group PIc Chief Executive, Vittorio Colao stated at a press conference in Mumbai, “We are very complimentary. Idea is strong where Vodafone is weaker. Vodafone is strong where Idea is weaker.”
Chairman of the Aditya Birla Group, Kumar Mangalam Birla expressed his views on the biggest telecom merger and went on to say: “The merged listed entity which will take shape over the next 24 months, will have a 26% shareholding from Idea Cellular, 45.1% from Vodafone Group and the remaining will be held by the public.”