The much talked about mega merger of Vodafone India and Idea Cellular has been cleared by National Company Law Tribunal (NCLT), paving the way for the creation of India's largest telecom operator worth over USD 23 billion with a 35 per cent market share.
Following the merger, the current market leader Bharti Airtel will be dislodged from the pole position, by its sheer size and scale.
The government approved the merger of Vodafone India and Idea on July 26 after the two firms provided for over Rs 7,248 crore as one-time spectrum charge.
Idea Cellular has informed that the company's name has been changed to Vodafone Idea Limited.
