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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Inappropriate for MLAs seeking free IPL tickets, says D.K. Suresh
Bengaluru: Bengaluru Milk Union Ltd President D.K. Suresh on Monday said it is inappropriate for MLAs to seek free IPL tickets, adding that those interested in watching matches should pay for them personally.
Speaking to reporters near his residence in Sadashivanagar, he said, “IPL is a commercial tournament and does not represent the country. It is not right for public representatives to focus too much on such matters.”
Referring to the recent controversy during the RCB celebrations, he said, “let us find out who benefited the most from the statements made during the incident.” He also pointed out that BJP MLAs had received IPL tickets as well.
Responding to discussions about relocating the Chinnaswamy Stadium, Suresh said the government has already approved the construction of a new stadium at a location he had proposed.
“I had suggested building a stadium in Surya City and submitted a proposal for it. Bengaluru needs four stadiums in four directions to cater to its growing population and encourage youth participation in sports,” he said.
He noted that apart from Kanteerava Stadium, KSCA, and the Football Stadium, there are limited facilities in the city.
“When I was a Lok Sabha member, I had proposed allocating 100 acres in my constituency at Surya City. The land was later earmarked and the plan approved,” he added.
Suresh said he has discussed the project with Minister Zameer Ahmed Khan, Rajiv Gandhi Housing Corporation Chairman Shivalingegowda, and Anekal MLA Shivanna.
“The Cabinet has now approved the project, and a stadium will be developed on around 50–60 acres,” he said.
He further added that he has requested the Deputy Chief Minister to build another stadium at Shivarama Karanth Layout through the BDA, where 40 acres have been allocated. Plans are also being discussed to develop a well-equipped stadium in Bidadi.
Commending state government's recent bilingual policy move, Suresh said forcing children to learn three languages could affect their comprehension.
“It is a good decision to make two languages compulsory. Learning a third language should be left to the choice of students and parents,” he said.
Responding to criticism from BJP leaders, he said their tendency is to oppose every decision of the government.
“To please their central leadership, they take a pro-Hindi stance. Instead, they should advocate for the adoption of Kannada in all states,” he said.
When asked about the earlier three-language policy under Congress, he said, “the situation is different now. Today, the focus should be on quality learning. Kannada should remain the primary language, while students and parents can choose an additional language.”
