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The National Company Law Tribunal (NCLT) has given approval to the proposed merger between Idea Cellular and Vodafone.
In a regulatory filing Idea Cellular stated, “We wish to inform you that the Honorable National Company Law Tribunal, bench at Ahemdabad, vide its order dated January 11, 2018 has sanctioned the composite scheme of amalgamation and arrangement among Vodafone Mobile Services Limited and Vodafone India Limited and Idea Cellular Limited..”
Now, both the entities can seek the final approval for merger from the Department of Telecom after Vodafone’s appeal for the scheme gets NCLT approval.
