With huge competition with Jio, most of the telecom companies are merging to become larger. Recently, Airtel finished its acquisition of Te...
With huge competition with Jio, most of the telecom companies are merging to become larger. Recently, Airtel finished its acquisition of Telenor India and now Vodafone India and Idea Cellular merged together and became "vodafoneidea.com" the largest association in the telecom industry with over 400 million subscribers. This has happened in less than 7 months after Jio started commercial operations in September 2016.
The official statement was announced on 31st August by Aditya Birla groups on twitter. It has 6 independent directors and 12 directors; the CEO is Balesh Sharma and he aims to take this association to a new level.
After the official announcement by Idea, Vodafone replied 'Yeah @Idea. It's time we made it official. https://www.vodafoneidea.com/'.
Although most of the people wished them, Jio had a totally different take on this collaboration. It came up with a mind-blowing reply & we can't stop but appreciate the telecom operator.
Jio said that it is responsible for bringing people together, indirectly referring to this merger. What does it mean? i.e; Jio, indirectly said that it is due them Vodafone and Idea have merged.
Airtel also tweeted but Jio tops the place with its creative tweet.
The combination will have all India revenue market share of 32.2 % and take the numero uno slot in nine telecom circles, it said adding that both Vodafone and Idea brands will continue.
According to the reports, "The merger is expected to generate Rs 14,000 crore annual synergy, including opex synergies of Rs 8,400 crore, equivalent to a net present value of approximately Rs 70,000 crore. The equity infusion of Rs 6,750 crore at Idea and Rs 8,600 crore at Vodafone, coupled with monetization of standalone towers of both companies for an enterprise value of Rs 7,850 crore, provides the company a strong cash balance of over Rs 19,300 crore post-payout of Rs 3,900 crore to the Department of Telecom (DoT)"
The official statement was announced on 31st August by Aditya Birla groups on twitter. It has 6 independent directors and 12 directors; the CEO is Balesh Sharma and he aims to take this association to a new level.
After the official announcement by Idea, Vodafone replied 'Yeah @Idea. It's time we made it official. https://www.vodafoneidea.com/'.
Although most of the people wished them, Jio had a totally different take on this collaboration. It came up with a mind-blowing reply & we can't stop but appreciate the telecom operator.
Jio Tweeted:
Jio said that it is responsible for bringing people together, indirectly referring to this merger. What does it mean? i.e; Jio, indirectly said that it is due them Vodafone and Idea have merged.
Airtel also tweeted but Jio tops the place with its creative tweet.
The combination will have all India revenue market share of 32.2 % and take the numero uno slot in nine telecom circles, it said adding that both Vodafone and Idea brands will continue.
According to the reports, "The merger is expected to generate Rs 14,000 crore annual synergy, including opex synergies of Rs 8,400 crore, equivalent to a net present value of approximately Rs 70,000 crore. The equity infusion of Rs 6,750 crore at Idea and Rs 8,600 crore at Vodafone, coupled with monetization of standalone towers of both companies for an enterprise value of Rs 7,850 crore, provides the company a strong cash balance of over Rs 19,300 crore post-payout of Rs 3,900 crore to the Department of Telecom (DoT)"
COMMENTS