Vodafone, Idea go for merger to fight Jio
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.
At present, Bharti Airtel is India's biggest telecom player, with a market share of 23.6 percent and a customer base of 265.9 million. The entry of Reliance Jio has led to a consolidation in the Indian telecom sector.
The merger values Vodafone India at 828 billion rupees ($12.4 billion) and Idea at 722 billion rupees ($10.8 billion), the statement said. The merger will not include Vodafone's 42 percent stake in Indus Towers Ltd., another local company.
Idea Cellular is owned by India's Aditya Birla Group.
Vodafone's market share was 18.16 percent, with 204.68 million mobile customers, while Idea's was 16.9 percent, with 190.51 million, according to data provided by the government-run Telecom Regulatory Authority of India.
Vodafone Group Plc. entered India in 2007 through a subsidiary based in the Netherlands.
Vodafone is involved in a $2.5 billion tax dispute with Indian authorities over its purchase of Hutchison Essar Telecom services in April 2007. Indian tax authorities say the transaction involved the purchase of assets of an Indian company and was therefore liable for taxes in India. Vodafone has challenged the tax claim in an Indian court.
Nepal Yatayat to replace small buses with larger ones
Nepal Yatayat is replacing 10 small and old buses with large ones within this month. It has informed that it is bringing 10 new large buses to replace its old and small buses. Secretary of Nepal Yatayat Minibus Service Committee Gopal Chandra Gurung informed that new buses, each having 35 seats, will come into operation to retain its popularity among its commuters.
First banking expo to kick off from April 28
A banking expo is being organized at Bhrikutimandap from April 28 in collaboration with the Nepal Rastra Bank (NRB), Bankers Association, Development Bankers Association and Micro Finance Development Bankers Association.
NT allows free browsing of 550 govt websites
The company shared information about this through a press meet here Tuesday. On the occasion, Managing Director Kamini Rajbhandari said the company was committed to making its services customers-friendly and technology-friendly, and had been successful in launching the 3G internet service in Rara Lake area, the major tourist destination in Mugu district.
- Organic wine business soaring
- Gold, silver prices down
Challenges for reconstruction
One of the major challenges faced in the reconstruction process of Nepal is the absence of elected local government. Lack of government in local level was reflected in the major pre-disaster and post-disaster events, where it took months to reach the affected region and still no widely-accepted data is available. In the absence of an elected local government, top-down approach of governance has its own accountability deficit.
Apil KC/Keshab Sharma
Making sense of Adityanath's rise in Modi's India
The most notorious incitement of communal hatred by Adityanath was his exhortation to 'kill ten woh log ['them' meaning Muslims]' rather than knocking the doors of legal system 'if one Hindu is killed' in riots.
Kathmandu means so much to me, and it looks like for people who promise to be the agent of change for the better, their own names mean a lot. A lot more than Kathmandu it seems.
Identity and nationhood
Whoever says nationhood is not important would be lying. For example, belonging to a particular nation may give certain advantages to a person that one belonging to another nation would not get.
Traffic Police in Kathmandu
As busy and hassling as the traffic system in Kathmandu is, the Traffic Police here have to handle an equally strenuous job. Over 1,400 traffic officers in and around the Kathmandu Valley battle against the pestering traffic and air pollution each day.
Menstrual taboo outdated
I have seen my sisters and friends isolated and treated in discriminatory manner during their first menstruation cycle. They were not allowed to look at the sun, to touch water source, flower, fruits, any male family member, nor even hear their voice. The activist may claim the situation has changed and I do agree but still during every month my loved ones turns into untouchables beings.