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As per a regulatory filing, shareholders of Idea has given nod for merger of its mobile business with Vodafone India.
The filing by Aditya Birla group stated, over 99% of Idea shareholders have voted in favor of the merger at the shareholders meeting held on October 12,2017.
Both companies approached the National Company Law Tribunal (NCLT) seeking its approval . Now they need a final approval from the Department of Telecom.
Moreover, the deal will give Vodafone India an implied enterprise value of Rs.82,800 crore and Idea Rs.72,200 crore.
