NEW DELHI: The telecom department is likely to approve on Monday the merger of Vodafone India and Idea Cellular that will create the country's largest mobile service operator with proposed name of Vodafone Idea Ltd. "DoT (Department of Telecom) is expected to clear the Vodafone-Idea merger on Monday. The certificate will be handed to them," an official source said on Sunday. The merger, when it comes through, will create India's largest telecom firm worth over $23 billion with a 35 per cent market share and a subscriber base of around 430 million. The entity is expected to intensify the telecom battle dominated by Reliance Jio and Bharti Airtel.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.