August 30, 2018 / 3:26 PM / 8 months ago

Indian tribunal approves Idea-Vodafone unit merger - source

LONDON, Aug 30 (Reuters) - India’s National Company Law Tribunal (NCLT) has approved the merger of Idea Cellular Ltd and the Indian unit of Vodafone Group, according to a person familiar with the matter.

Idea, a part of the Aditya Birla conglomerate, and Vodafone signed a merger agreement last year, which could create the country’s biggest telecom operator. Approval from the Tribunal was the only outstanding regulatory requirement.

Both companies have declined to comment.

Reporting by Elisabeth O'Leary; writing by Kate Holton; editing by Costas Pitas

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below