Idea Cellular and Vodafone India have agreed to a merger that will see the two firms become the largest telecom company in India. Nikkei Asian Review reports the two players have a combined subscriber base of 400 million, market share of 35% and revenue share of 41%. The move comes as the firms look to maintain pricing pressure in an increasingly competitive market.
Vodafone Group CEO Vittorio Colao (R) shakes hand with chairman of India’s Aditya Birla Group Kumar Mangalam Birla. Photo: AFP, Punit Paranjpe
Idea, Vodafone merger makes India’s largest telecom
The firms announced the deal in a joint statement Monday