Merger of Idea Cellular and Vodafone India complete
Kumar Mangalam Birla will be the non-executive Chairman and Balesh Sharma is the new CEO of the merged entity
The mega-merger of Vodafone India and Idea Cellular is complete and the merged company is fully operational after being cleared by the National Company Law Tribunal (NCLT), making it India's largest telecom operator with a 32.2 percent market share.
The combined entity of Vodafone and Idea Cellular has over 408 million subscriber base. Kumar Mangalam Birla will be the non-executive Chairman and Balesh Sharma is the new CEO of the merged entity, which would remain listed. There are 12 Board of Directors.
On the occasion of the merger, Kumar Mangalam Birla, Chairman Aditya Birla Group and Vodafone Idea Limited, said, “Today, we have created India’s leading telecom operator. It is truly a historic moment. And this is much more than just about creating a large business. It is about our Vision of empowering and enabling a New India and meeting the aspirations of the youth of our country. The “Digital India”, as our Honourable Prime Minister describes it, is a monumental nation building opportunity. As Vodafone Idea, we are partnering in this initiative by building a formidable company of international repute, scale and standards.”
Commenting on the merger being complete, Sharma said, “As India’s leading telecom operator with two popular and loved brands, the company has the scale and resources to ensure sustainable customer choice and introduce new technologies. We are committed to offer both our retail and enterprise customers an excellent experience while fulfilling their evolving digital and connectivity needs via new products, services and solutions. We will offer them more network coverage, more value and more excitement. My team and I look forward to your continuing support and invite you to enjoy the Vodafone Idea experience.”
The combined company is designed to be agile, digitally savvy and future fit. The company is committed to create a truly ‘Digital India’ by enabling millions of citizens to connect seamlessly.
In addition to quality voice and data service experience, customers will enjoy a variety of digital services and solutions including mobile payments, Internet of Things (IoT), advanced enterprise offerings and entertainment, conveniently accessible via digital channels as well as extensive on-ground presence through 15,000 branded outlets and 1.7 million retail touchpoints across the country.
According to a statement, Vodafone Idea will continue to invest in developing world-class infrastructure and introduce newer and smarter technologies - IoT, high speed and secure leased lines, digital wallets, MIMO and cloud services. It will empower businesses with future-ready products and services to help them scale up, become more efficient and tap new, emerging opportunities in the digital era.
WhatsApp, Instagram, LinkedIn, Twitter, Facebook & Youtube