Idea Cellular’s board has approved merger with Vodafone India to create country’s largest telecom company both in terms of revenues and subscribers. While Vodafone will hold a 45.1% stake in combined company, Idea will hold a 26% stake and remaining stake will be held by public. The merger reportedly values Vodafone India at $12.4 billion and Idea at $10.8 billion.
Idea, Vodafone to merge to form India’s largest telecom firm
