Idea and Vodafone announce $23 billion cashless merger
The Dollar Business Bureau Vodafone and Idea officially confirmed their much-anticipated merger on Monday. The combined entity, in terms of revenue and number of subscribers, will form the biggest player in India, which is the world's second largest telecom market. However, Airtel is still projected to lead in profitability and average revenue per user (ARPU). The $23 billion deal between India's second and third largest telecom firms will see the formation of a gargantuan entity with a subscriber base of close to 400 million and revenues projected at over Rs.80,000 crore, capturing 41% market share in revenue. Vodafone will hold a 45.1% share in the joint venture after selling 4.9% stake to Idea for Rs.3,900 crore. Aditya Birla holds a 26% stake initially, but at the end of three ...
UK telecom service provider to invest $300 million in India
Source: PTI New Call Telecom Limited, one of the fastest growing residential telecom service providers in the UK, will invest $300 million (about Rs.2,000 crore) in India to increase its presence in the country. “New Call Telecom has announced investments worth $300 million in the next 12-18 months in India,” its CEO Nigel Eastwood told reporters in Jammu on Friday. The focus will be on acquiring some more companies in India and enlarge business stakes in the country, he added. The company had recently acquired leading global mobile technology brand Nimbuzz and New Delhi-based Ozone Networks, country's largest Wi-Fi service provider, the CEO further said. “Nimbuzz has rapidly growing revenues that have doubled every year for the last 3 years. Ozone Network ...
