Idea-Vodafone Amalgamation In Last Phases Of Approval

Idea-Vodafone Amalgamation In Last Phases Of Approval

The amalgamation among telecom majors Vodafone India and Idea Cellular is in the concluding stages of sanctioning, claimed Aruna Sundararajan, the Telecom Secretary, this week to the media.

“The Idea-Vodafone amalgamation is in the concluding stages of authorization. Since they have received the Securities and Exchange Board of India (Sebi) and National Company Law Tribunal (NCLT) permissions, but there are some Foreign Direct Investment (FDI) sanctions that are included, there is some liberalization of licenses,” Sundararajan claimed to the media at an event organized by the COAI (Cellular Operators Association of India).

Idea-Vodafone Amalgamation In Last Phases Of Approval

“So, there are a lot of permissions, it is not a single-step permission,” she claimed further. Sundararajan claimed that the National Telecom Policy was in its concluding stages of drafting post which it will be presented to the Telecom Commission for sanction and then to the administration.

The Secretary showed hope that the pipeline for the 5th-generation (5G) network in the country will be prepared by June 2018.

Speaking on “Catalyzing 5G launch in India” at the COAI event, Sundararajan claimed: “The 5G tech development is hoped to allow new services, linking new segments , various types of gadgets, and authorize new consumer experiences, to back extended connectivity required for the upcoming decade and further than that.”

Director General of COAI, Rajan S. Mathews, claimed, “The new rules finalized by 3rd Generation Partnership Project (3GPP) and this conference of experts will allow Indian telecom companies to change to new techs while making sure that the requirements of different segments is well met.”

The National Company Law Tribunal accepted the projected merger between Vodafone and Idea Cellular in January 2018. The merge is a step that brings both the firms nearer to concluding the contract. “We wish to inform you that the Hon’ble National Company Law Tribunal, bench at Ahmadabad, has sanctioned the composite scheme of amalgamation,” Idea Cellular claimed to the media.

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