Vodafone-Idea merger to cost Rs 13,400 crore for combined entity: Idea Cellular MD
Tuesday, 21 March 2017 Although it will save them $10 billion, integrating operations of Vodafone and Idea will cost the combined entity around Rs 13,400 crore, a top official of the Aditya Birla Group company said. “The integration cost accounted in the net synergy is estimated to be nearly Rs 13,400 crore from the completion until the first full year of operations,” Idea managing director Himanshu Kapania told analysts. He was addressing the analysts after Idea decided to merge its operations with the British telecom giant’s local unit to create the largest telco in the country with a combined valuation of $23.2 billion. He said the synergies leading to cost saving will result in a net benefit of $10 billion for the merged entity,
Mar.20 -- Vodafone's Indian unit has agreed to merge with Idea Cellular to create a wireless company that's more than twice as big as AT&T by subscribers. Bloomberg's Harsha Subramaniam reports on "Bloomberg Daybreak: Europe."
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