British telecom company Vodafone's Indian unit on Monday announced a merger with Idea Cellular, a local company, creating India's largest telecom operator, with around 400 million customers.
Vodafone will own 45.1 percent of the combined company and Idea will have a 26 percent stake, while the rest will be owned by public shareholders after the merger, which is expected to be completed next year, the companies said in a joint statement.
Vodafone will own 45.1 percent of the combined company and Idea will have a 26 percent stake, while the rest will be owned by public shareholders after the merger, which is expected to be completed next year, the companies said in a joint statement.