Vodafone and Idea tie-up creates India’s biggest telecom firm
British mobile phone giant Vodafone will merge its Indian unit with Idea Cellular to create India’s largest telecoms operator as they combine to fight a price war sparked by the country’s richest man. The confirmation ended months of speculation that the two operators were ready to sign a deal to help fend off the Mukesh Ambani-backed Reliance Jio, whose recent arrival has shaken up India’s ultra-competitive mobile network market. ‘Vodafone Group Plc and Idea Cellular today announced that they have reached an agreement to combine their operations in India,’ they said in a statement to the Bombay Stock Exchange (BSE).…
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