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.
ECAN education fair kicks off
The 11th ECAN Edufair has kicked off here from Thursday with an aim of making Nepali students familiarize about the education system at home and abroad. Sri Lanka's Ambassador for Nepal W.S. Perera inaugurated the fair at local Bhrikutimandap. On the occasion, she insisted on the need of further consolidating the Nepal-Sri Lanka ties through the means of education.
- Gold price stable, silver price rises
- Siraha transport management office starts distributing smart card
World Link to bring high-speed optical network for first time in Nepal
Internet service provider World Link Communication Network is strengthening its backbone within a month. The company has said that the new network to be made available by Nokia IP and Communication will be of comparatively higher quality than the current one. It informed that an agreement process has already been forwarded with Nokia to that regard.
Nepal-India Trade, Transit and Connectivity workshop organized
The Nepali Embassy in New Delhi and the IDSA jointly organized a workshop on Nepal-India Trade, Transit and Connectivity as part of the Embassy's economic diplomacy initiative at Vishakhapatnam, India, Wednesday.
Why should we save the ethos of 2015 Nepali constitution?
While Nepal should address voices that question the constitution, it should not undermine the document’s dignity and longevity if the country wants to establish a constitutional culture. No constitution can fulfill all wishes. The drafters of the present constitution should not feel guilty in not securing the consent of all citizens. If the constitution is not fundamentally discriminatory, it has chances to grow further.
One Belt One Road: Prospects & Challenges
Nepal thus has to debate, discuss, analyze and then conclude the cost and benefits of the OBOR for its populace. The benefits of OBOR for Nepali economy are easy to understand, but the short, medium and long-term consequences are not simple, and thus require careful examination.
Dreams and drains
A water-filled ditch looks quite benign until someone lands into it. It was a case of extreme apathy on the part of the perpetrators as the girl paid up with her life for their neglect.
Govt apathy toward flood control
While some opine that, relief can be an option for providing an instant solution, the majority believes that Nepal needs a permanent solution to the problem. And the solution could be construction of dams and water reservoirs, which are the best instruments for flood control.
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.