"We expect to develop common IT system for combined entity and larger scale to drive cost efficiency", he said.
Idea said it would issue equity shares to Vodafone India after the scheme of amalgamation with VMSL, which would be equal to 47 per cent of the post-issue paid-up capital of the company on a fully-diluted basis.
The newly merged firm will be valued at $23.2 billion, based on the enterprise value of $12.4 billion for Vodafone India and $10.8 billion for Idea Cellular.
COAI also said that the tariff war has led the financial condition of industry at risk and increased the debt to Rs 4.3 lakh crore, which is eventually leading to a severe decline in government revenues from the sector.
"The combination of Vodafone India and Idea will create a new champion of Digital India founded with a long-term commitment and vision to bring world-class 4G networks to villages, towns and cities across India", said Vittorio Colao, CEO of Vodafone Group. Idea is set to include all of its assets including its standalone towers and its 11.15% stake in Indus Towers, with a total value of $10.8 billion excluding the Indus stake.
Vodafone will own a 45.1 per cent stake in the the merged entity following the transfer of about 4.9 per cent of shares to promoters of Idea and and its affiliates for 38.74 billion rupees ($592.15 million) in cash, Idea said in a statement. Idea Cellular has a net worth of Rs 24,296 crore and turnover of Rs 36,000 crore.
The Birlas will have the right to acquire more shares from Vodafone under an agreed mechanism with a view to equalising the shareholdings over time, said a joint statement by the two companies.
Vodafone India will be deconsolidated by Vodafone and reported as a joint venture post-closing, reducing Vodafone Group's net debt by around United States dollars 8.2 billion.
Until equalisation is achieved, the voting rights of the additional shares held by Vodafone will be restricted and votes will be exercised jointly under the terms of the shareholders' agreement. In order to get the decision executed, the companies will require shedding some spectrum and subscribers to make sure that the regulatory approvals under the competition rules in India are complied with.
The combined entity is expected to cross the spectrum cap in 900 Mhz band in Maharashtra, Gujarat, Kerala, Haryana and UP West and in 2,500 Mhz band in Maharashtra and Gujarat.
Immigration and Customs Enforcement officers escort an man who was arrested in a New York City apartment building. The report provides information on declined detainers and requests for notification for that reporting period.
On the night, the four-time MVP was 13-for-22 from the floor, adding a team-high seven assists, six boards and a steal. And the Clippers are in the thick of it, along with the Utah Jazz, Oklahoma City Thunder and Memphis Grizzlies.
Spurs coach Gregg Popovich said Aldridge has been dealing with issues all season but added his joy at the strong diagnosis. While Aldridge's health is the most important thing, the Spurs will be happy to have their big man back on the court.
Dortmund boss Thomas Tuchel has dismissed his chances of succeeding Arsene Wenger as Arsenal boss and says he's happy in Germany. Arsene Wenger: Time to go at Arsenal? The veracity of the story has been disputed however, and Arsenal have moved to deny it.
If you happen to have a package of this edamame, you can return it to the store where you bought it for a full refund. The CDC says there are an estimated 1,600 cases of listeria a year, about 260 of them fatal.
Gold Standard Ventures Corp on 11/14/2016 reported its EPS as $-0.01 with the analysts projecting the EPS of the stock as $-0.01. Average price target for Gold Standard Ventures Corp (NYSEMKT:GSV) stock is $2.29, according to consensus of 2 analysts.
Trump said while campaigning for president that if he won, he would probably be too busy doing the people's business to golf. Spokesman Sean Spicer said that "where ever the president goes, (he) carries the apparatus of the White House ".
This is significantly lower than the starting price of the original Surface Book , which starts from $1,499 (£1,210). The Surface Studio was added in October 2016, and the Surface Book received its Performance Base refresh.
The parents said the boys often like to play after being put to bed around 7:30 p.m. but they usually calm down after an hour. Andrew and Ryan wait until the coast is clear, and then climbed back out and sat on their couch to continue chatting.
Get ready for tornado drill
It is similar to what people would see or hear during an actual tornado warning, officials with Fairfax County said. During the drills, the National Weather Service will send a tone alerted warning message over NOAA Weather Radios.
United Kingdom to launch European Union divorce on March 29
Theresa May first came to Wales in the baking hot sun in Cardiff Bay last summer, a short time after she became Prime Minister. Leaving the Single Market was not on the ballot paper in the referendum , it is a political choice made by Theresa May.
Why Manipur's Iron Lady Secured Only 90 Votes
So sure was he of his victory that never once did he publicly scoff Sharmila's foray into politics and instead welcomed her move. She also told media that she will be looking into the tribal issues of Attapadi.
Paul Ryan confident GOP's health overhaul will pass this week
The changes Trump is agreeing to from the House aren't going to help those Republican senators reconcile themselves to the bill. Health and Human Services Secretary Tom Price also said regulatory changes in particular could increase competition in markets.
Pope apologises for 'sins' in Rwanda
The United Nations has criticized the Catholic Church in the past for its failure to apologize for its complicity in the killings. Hutu attackers burned down churches with hundreds or thousands of Tutsis inside.
Huawei P10 Lite now ready for pre-order in the UK
With the recent launch of P10 lite in United Kingdom , company aims to bring the popular P line up to the budget segment. The device will be offered in Midnight Black and Platinum Gold options with ceramic sandblasted finish on the back.