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Wireless

Regulator seeks charges of INR 72.68 bln for Idea-Vodafone merger approval - report

Thursday 12 July 2018 | 08:39 CET | News
India's Department of Telecommunications (DoT) has conditionally approved the merger of Vodafone India with Idea Cellular. The conditions for approval include an upfront payment of INR 72.68 billion, comprising a bank guarantee of INR 33.42 billion to cover what Idea owes on account of one-time spectrum charges and INR 39.26 billion in cash to be paid by Vodafone for non-auctioned airwaves, people familiar with the matter said. Vodafone India and Idea are currently the second and third largest operators on the local market, respectively. The merged entity will have a combined base of nearly

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