The HC agreed with Vodafone Group's claim that "no speaking order" was passed by the CCI, and questioned how a holding company was responsible for inter-connection default.
As a result of the preferential allotment, the aggregate shareholding of the promoter group in Idea has increased from 42.4 to 47.2 per cent.
Going by the number of subscribers and revenue market share, this merger will give birth to India’s largest mobile phone operator. The deal is expected to conclude before July 2018.
Bharti Airtel, Vodafone India and Idea Cellular are working with handset companies to make cheaper 4G smartphones costing as low as Rs 500 effectively.
In what could be considered a landmark year for the telecom sector in India, 2017 saw telcos consolidate like never before. By the end of the year, there were only three major players left in the market.
"Vodafone India and itel Mobile announced a strategic partnership to provide an exciting cashback offer on the purchase itel A20 Smartphone. The offers provides a cashback of Rs 2,100 to a customer buying itel A20 bringing its effective price down from Rs 3,690 to just Rs 1,590," Vodafone and itel said in a joint statement.
As per the agreement between the two telcos, Aditya Birla Group chairman Kumar Mangalam Birla will be the chairman of the merged entity, while the CFO will be a Vodafone nominee.
In a statement, Vodafone said that its existing and new customers can purchase the new Micromax smartphones - Bharat 2 Plus, Bharat 3, Bharat 4 and Canvas -1 - and avail cash back offers.
Over 99 per cent of Idea shareholders voted in favour of the merger at the shareholders' meeting on October 12, 2017, the filing by the Aditya Birla group firm stated today.
On the timeline for completion of the merger, he said it will happen by 2018. Earlier this year, Vodafone India and Idea Cellular had agreed to merge their operations to create the country's largest telecom operator worth of more than USD 23 billion with a 35 per cent market share.
The deal, announced in March this year, will create the country's largest mobile phone operator worth more than USD 23 billion with a 35 percent market share.
For minimal monthly charges, the companies are now offering their customers various services like insurance cover, damaged phone repairs, anti-virus, and cloud back-up, among others.
The Telecom Regulatory Authority of India (Trai) collects and computes data download speed with the help of its MySpeed application on a real-time basis. Theoretically, a user can download one Bollywood movie in about five minutes at 16 mbps speed.
The company, which is set to be merged with Idea Cellular to create the country's largest telecom player, had reported an EBITDA profit of Rs 13,115 crore on a standalone basis in the year ago period.
Telecom major Vodafone India today told the Delhi High Court that TRAI's consultation process to frame rules for network testing before a full-fledged launch by a company was a "deliberate exercise" to defeat its plea against Reliance Jio.
Accruals from licence fee payments in the telecom sector have fallen from Rs 3,975.6 crore in the first quarter to Rs 3,450 crore in the third quarter of the current fiscal, the Parliament was informed today.
The acquisition will narrow the gap between Bharti's pan-India 4G spectrum capacity and Vodafone-Idea's and Reliance Jio's.
According to sources, the newly merged telecom giants are in talks with Brookfield and ATC for sale of its telecommunications infrastructure. While the companies are running separate sale processes, the assets could be sold to a single buyer to get better returns.
The profit booking was warranted after a rally in previous week, say experts who expect the market to consolidate for couple of days before getting traction to move towards record high. Huge inflow from FIIs since February indicated that uptrend is still intact.
The Vodafone-Idea Cellular deal was finally announced ending months of speculation on the possibility of the deal and its valuation. But the clear and immediate danger in the form of an aggressive roll-out by Reliance Jio has helped close the deal.
Telecom sector has undergone change over the years especially after the entrance of Reliance Jio. While on one hand, the sector witnessed consolidation in terms of players, on the other hand, competitive intensity has been equally high, suggest experts.
Track the latest developments from the Vodafone-Idea merger here.
The merger could signal the beginning of the end of cheap tariffs with fewer players left in the fray.