NDTV Profit Team
| Thursday March 22, 2018
Vodafone Group Plc and Idea Cellular on Thursday announced the proposed leadership team of the combined business, which will come into effect after the Vodafone-Idea Cellular merger has been completed. This is in line with the original merger announcement of 20 March 2017, which said that the management team of the combined business would be confirmed prior to closing. The joint enterprise of Vodafone and Idea Cellular, currently country's number two and number three telecom companies, respectively, would unseat Bharti Airtel to grab the top slot. Once the deal goes through, Vodafone will own 45.1 per cent stake in the merged entity, while Idea Cellular will have a 26 per cent stake. However, this will happen after paying Rs. 3,874 crore cash for a 4.9 per cent stake. The remaining 28.9 per cent will be held by other shareholders.