iWorld

Idea-Vodafone India merger creates leader with 42% market share

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2017/03/20/adi%20%281%29.jpg?itok=TjoWUJSg

MUMBAI: Britain's Vodafone Group's Indian subsidiary and Aditya Birla Group's Idea Cellular, after eight months of discussion, have merged to create a new market leader better able to contest a brutal price war. The merger, expected to be completed in 2018, was necessitated due to the launch of Jio Infocomm that shook the Indian wireless telephony market with its low rates.

Idea Cellular on Monday approved the merger with Vodafone Mobile Services Limited and Vodafone. According to a statement, promoters of Idea and Vodafone will have the right to nominate three directors each.

The combined company would have almost 400 million customers, 35 per cent customer market share and 42 per cent revenue market share.

According to reports, Idea Cellular will hold 25% stake in the merged company. Vodafone will hold 45.1 per cent stake, and will transfer 4.9 per cent stake to Idea founders. The merger will require regulatory approval.

The equity value of the companies was estimated at Rs 40,000 crore each while the combined entity would have debt of around Rs 89,000 crore.

In a BSE filing, Idea Celluar announced its approval of amalgamation of Vodafone India Ltd (VIL) and its wholly owned subsidiary Vodafone Mobile Services Limited (VMSL) with the company subject to receipt of necessary approvals of shareholders, creditors, SEBI, RBI and other governmental authorities.

Idea release stated the proposed amalgamation may result in: Creation of the largest Indian telecom operator with widest mobile network in the country and pan India 3G/4G footprint. Sufficient spectrum to complete with major operators in the market while offering innovative priced mobile services to customers and acceleration of expansion of wireless broadband networks.

“The combination of Vodafone India and Idea will create a new champion of Digital India founded with a long-term commitment and vision to bring world-class 4G networks to villages, towns and cities across India,” said Vodafone Group CEO Vittorio Colao.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/byomkesh.jpg?itok=Y-zgJKg8
Catch the mystery of Satyakam's murder in Byomkesh on Hoichoi

After a massive success of the inaugural season of the first ever web series on Byomkesh, hoichoi, the Bengali entertainment content platform, announced the launch of its Season 2 today. The 1-hour-long first episode of Byomkesh Season 2 will start streaming on hoichoi globally from Saturday,...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/samer_1.jpg?itok=t6yF7ocX
Viu & Nicotex Partner to Launch Adventure Series 'I Can You Can'

Viu announced the launch of its first adventure reality show ‘I Can You Can’ in partnership with Nicotex. The show is produced by BBC, India. With the introduction of this new style of journey-based content, Viu continues to offer fresh and compelling content in a variety of genres.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/14/discovery.jpg?itok=Sqxv9xYa
Discovery to launch digital channels, ties up with telcos

Discovery Communications India (DCIN) is planning to disrupt the digital space with the launch of bespoke direct-to-consumer and mobile-first channels in February 2018. The new mobile-first channels will focus on four core-interest areas—military, girlist, automotive and food. The first two...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/13/netflix_0.jpg?itok=eP3fWaVf
Indians binge watch Netflix faster than global average

India saw a massive rise in Netflix binge-watching this year. Here’s a flashback at the most intriguing streaming moments that defined the platform’s viewership in 2017.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/13/semi.jpg?itok=sqE324qM
Semi-urban connect helps FilterCopy attain top slot on Facebook

MUMBAI: It’s time to pour a nice cup of filter coffee because it’s no small feat to beat a giant like Buzzfeed. According to a report by Vidooly, FilterCopy page ranked top on Facebook with more than 71 million (71,128,760) views in new age entertainment category with 27.4 million (2,743,641)...

iWorld Social Media
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/12/Mukesh-Ambani.jpg?itok=LOJOesz0
RIL to plan IPO for Reliance Jio: Bloomberg

Reliance Industries Ltd (RIL) may launch the initial public offering (IPO) for Reliance Jio by late 2018 or early 2019 to further challenge the collective might of Airtel and the Idea-Vodafone combine, according to a Bloomberg report. Reliance Jio, which hasn’t made a profit since its official...

iWorld Telecom
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/12/yuutube.jpg?itok=rbwv91hH
Health & beauty YouTube's fastest growing vertical in 2017 for India

YouTube remains the top video entertainment hub – with over 225 million Indian smartphone users, using the app every month. India also reached not one, but two major YouTube milestone this year, with 200 channels now crossing the one million subscriber mark and three channels achieving 10 million...

iWorld Video On Demand
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/12/Manav_Sethi_0.jpg?itok=KqWggyLS
Regional content on ALTBalaji to constitute 15% of show hours

MUMBAI: The year 2017 has witnessed the phenomenal growth of regional languages, such as Tamil, Telugu, Malayalam, Gujarati, Marathi and Bengali, over Hindi and English. OTT players like ALTBalaji, Viu, Amazon, SonyLIV, Voot, Hotstar, Netflix, and YuppTV have taken a deep dive into offering...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/11/manav.jpg?itok=RDQizBci
Mastiii and PEN tie-up for win-win deal

Mastiii is all set to make a mark in the mobile app industry. The channel will soon expand its digital footprint via an exclusive content association with PEN India and will be available on its latest, Bollywood Times Mobile App, a one-stop destination for entertainment needs starting 9 December...

iWorld Over The Top Services

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories