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.
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Oops! Deuba does it again
Deuba and Dahal have made a mockery of the constitutional provision of impeachment as a weapon of last resort with its preemptive registration as a tactical move to stop CJ Karki from delivering justice. This will set a bad precedent and there will be more such tactical use of impeachment in the future considering how justices at the SC are being appointed in political quotas in recent times.
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
Jhamsikhel as I knew
Hari-ko-pasal, right at the said junction used to be the place to buy any household item ranging from food grains and other household items. There was nothing that he did not have. Most often he loved keeping his customers waiting, more so if they were younger. He kept his client engaged with jokes and tole gossip.
Empowering local bodies
It is common to rent a room or two based on nothing more than a verbal contract. There are two types of owners. There are many who rent legal properties informally and those who rent out illegally built ones. The rental space demand is so much that owners openly flout bylaws by building more number of floors than approved. It is difficult, as it is, to bring both type of owners within the system.
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.