After several weeks of deliberation, Vodafone Group and Aditya Birla Group is apparently set to announced the merger deal of Vodafone India and Idea Cellular, giving birth to the second-largest telecom operator.
According to reports from The Telegraph, Vodafone Group and Aditya Birla Group may make the announcement of the merger of Vodafone India and Idea Cellular this week. While the exact date was not revealed, sources in the know suggest it come by the middle of the week.
While there has been no official confirmation, the report suggests that the Vodafone India and Idea Cellular merger deal is pegged at 21 billion Euros (approx. Rs. 149100 Crores). Incidentally, both the companies are expected to hold usual stake in the merged entity.
Based on reports, the equity value of both the companies has been estimated at Rs. 40000 crores each while the combined entity would have debt of approximately Rs. 89000 crores. However, the merged entity would together hold 42 percent market share in the Indian telecom sector.