The Government on Thursday gave its final approval for the mega-merger between Vodafone and Idea Cellular.
The go-ahead for Vodafone Idea, came 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.
The merger, to be acknowledged as Vodafone Idea, will make India’s largest mobile-operator with 35 percent market share and about 430 million subscribers. It will also help the firm to compete with billionaire Mukesh Ambani’s Reliance Jio Infocomm Ltd.
To complete the merger’s formalities, the entities will now approach the Registrar of Companies (RoC) for further arrangements.