Idea and Vodafone merger soon!
Two of the biggest telecom companies in India may soon join hands and become one.
Idea Cellular and Vodafone India are working currently working out on the details of a merger.
The two companies are expected to formally become one this month to create the biggest telecom company in India.
As per reports, Idea Cellular has called for an Extraordinary General Meeting –EGM on June 26 to decide the name change post-merger.
The name of the Idea Cellular Limited may be changed to "Vodafone Idea Limited" once the formalities are over and it is taken over by Vodafone India.
Vodafone is expected to own 45.1% share of the combined company while, 26 % will belong to Aditya Birla Group and Idea shareholders will own 28.9 %.