Reliance Jio Effect? Idea Cellular announces merger with Vodafone
Equity Tips BUY AXIS BANK 510 PUT ABOVE 10.00 Target1- 11.25 Target2- 13.35 StopLoss- 7.65. Idea Cellular on Monday announced that its board has approved the merger of Vodafone India and its wholly-owned subsidiary Vodafone Mobile Services Limited with itself in the process creating the country's largest telecom entity. Vodafone will hold 45 percent in the combined entity. Idea promoters will hold a 26 percent in the combined entity. AB Group will have the right to buy 9.5 percent stake in the entity at Rs 130 per share.
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