0
Wireless

Idea Cellular approves capital increase ahead of Vodafone merger

Thursday 4 January 2018 | 10:03 CET | News
Indian operator Idea Cellular has approved plans to raise up to INR 67.5 billion in the sale of new shares, in order to strengthen its capital position ahead of completing its planned merger with Vodafone India. The company will sell INR 32.5 billion in shares to its controlling shareholder the Aditya Birla Group at a small discount of INR 99.5 per share, and sell the remaining shares to institutional investors or through a rights issue. The plans mean ABG will receive a slightly higher stake in the merged group with Vodafone.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Categories: Mobile & Wireless
Companies: Idea Cellular / Vodafone / Vodafone India
Countries: India
::: add a comment

Comments

That is a great step towards improvement. If everything going perfectly like then soon India will achieve their goals.
Jan Afridi @ 5/1/2018 - 07:34


Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Idea Cellular to launch INR 35 bln share issue

Published 15 Feb 2018 07:38 CET | India
Indian mobile operator Idea Cellular's board has approved the issuance of equity shares worth up to INR 35 billion by way of ...

Vodafone India quarterly revenue drops 23.1%

Published 01 Feb 2018 11:13 CET | India
In March 2017, Vodafone announced an agreement to combine Vodafone India (excluding its 42 percent stake in Indus Towers), with ...

Vodafone sees small slowdown in Q3, but maintains FY outlook

Published 01 Feb 2018 08:10 CET | World
Vodafone reported a small slow down in organic growth in the December quarter, but maintained its guidance for the full year. ...

Idea to launch VoLTE service in March, strikes 4G deal with Vodafone

Published 25 Jan 2018 11:12 CET | India
Indian mobile operators Idea Cellular and Vodafone India have expanded their 2G intra-circle roaming agreements for increased ...

NCLT approves Idea Cellular-Vodafone India merger

Published 14 Jan 2018 14:24 CET | India
The National Company Law Tribunal (NCLT) has approved Idea Cellular's proposed merger with Vodafone Mobile Services and Vodafone ...

Vodafone, Idea create project management office to oversee merger - report

Published 05 Jan 2018 12:30 CET | India
Vodafone India and Idea Cellular have created a project management office to led the two companies' planned integration, The ...

Vodafone, Idea Cellular sell towers to ATC for INR 78.5 billion

Published 13 Nov 2017 08:36 CET | India
Vodafone India and Idea Cellular have agreed to sell their tower businesses to ATC Telecom for INR 78.5 billion (USD 1.2 ...

Vodafone India, Idea Cellular agree merger

Published 20 Mar 2017 09:16 CET | India
Vodafone Group and Indian mobile operator Idea Cellular have agreed to combine their operations in India. The merger agreement ...