Vodafone-Idea merger deal gets CCI nod

The Competition Commission on Monday approved merger of Vodafone India and Idea Cellular in a $23-billion deal that will create the country’s largest telecom operator.

Idea Cellular said the transaction is expected to close in 2018 subject to customary approvals.

Shardul Amarchand Mangaldas and Co, which advised Vodafone in the deal, said the regulator has ‘unconditionally’ approved merger of the telecommunications businesses of Vodafone India and its wholly-owned subsidiary Vodafone Mobile Services, with Idea Cellular.

“The $23 billion transaction is the largest transaction by value in the history of Indian M&A”, it said in a statement.

(Agencies)

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