Vodafone-Idea merger complete, becomes operational
New Delhi, Aug 31 : The merger of Vodafone India and Idea Cellular is complete after the National Company Law Tribunal (NCLT) approved the merger, creating India's largest telecom operator with over 400 million subscribers, a joint statement by the two companies said on Friday.
The clearance from the tribunal was the last leg of official approvals after the Department of Telecommunications (DoT) cleared the merger last month.
"Idea Cellular (renamed as 'Vodafone Idea Limited') -- an Aditya Birla Group and Vodafone Group partnership -- becomes operational as India's leading telecom service provider with a subscriber base of over 408 million," the statement said on Friday.
The new Board of Directors constituted for Vodafone Idea comprises 12 Directors, including six "independent Directors", with Kumar Mangalam Birla as the Chairman. The Board has appointed Balesh Sharma as the CEO, it said.
The new company will have a market share of 32.2 per cent, as per the statement.
"The merger is expected to generate Rs 140 billion annual synergy, including opex synergies of Rs 84 billion, equivalent to a net present value of approximately Rs 700 billion," it said.
Vodafone Group owns a 45.2 per cent stake and Aditya Birla Group owns a 26 per cent stake, both on fully diluted basis.
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AAP questions BJP on continuing alliance with JD(S) after 'sex scandal'
New Delhi, Apr 29: AAP on Monday called the alleged sex scandal involving Hassan MP Prajwal Revanna of the JD(S) "worse than the Nithari serial murders" and questioned why the BJP did not sever ties with the southern party after the incident came to light.
Prajwal Revanna is the BJP-JD(S) alliance candidate from Hassan, which went to the polls on April 26.
The 33-year-old is the son of HD Revanna, former prime minister and JD(S) patriarch HD Deve Gowda's eldest son.
HD Revanna is currently an MLA and a former minister.
Some explicit video clips allegedly involving Prajwal Revanna were circulated in Hassan in recent days.
A case of sexual harassment and stalking was registered on Sunday against HD Revanna and Prajwal Revanna on a complaint by their cook.
She alleged that four months after she started working for them, HD Revanna began to sexually harass her and Prajwal Revanna made video calls to her daughter and had "vulgar conversations" with her.
Former Delhi Commission for Women chief and AAP Rajya Sabha MP Swati Maliwal appealed to the Election Commission to disqualify Prajwal Revanna and demanded that re-polling be conducted in the constituency.
"I am shocked how a man can be such a beast! He fled to Germany as soon as the elections were over! On whose behest did this man leave the country? I appeal to the Indian government that wherever this man is hiding in the world, he should be dragged to the country and strict action should be taken against him," she said in a statement.
"I also appeal to the Election Commission of India that this matter is so disgusting, it is such a big sex scandal that he should be disqualified from the elections and re-polling should be conducted on his seat," she said.
JD(S) leader HD Kumaraswamy on Monday said there is no question of defending his nephew over the allegations and the party will take "merciless action" if the special investigation team probe proves the charges.
AAP Rajya Sabha MP Sanjay Singh questioned how Prajwal Revanna was allowed to flee the country.
"This is worse than the Nithari scandal. A former prime minister's grandson is involved in the matter. This is an incident of harassment and exploitation of women and I am surprised that the prime minister is silent," he said.
Calling Revanna's actions "height of bestiality", he said it was an extremely "shameful incident".
"What action should be taken in the matter? How did he flee the country? The prime minister should speak on it. How is JD(S) still a part of the NDA (National Democratic Alliance)? You speak about 'Beti Bachao' and women's safety. Women have been subjected to inhuman behaviour. This is one of the biggest rape scandals in the country," he said.
The Karnataka government has constituted a special investigation team to probe into the alleged sexual abuse of hundreds of women by the MP.
Stating that such incidents cause embarrassment to society as a whole, Kumaraswamy said there is no question of defending anyone.
"Wrong is wrong, irrespective of who has committed it," he said.
