Current Affairs - Business - Discussion

The Department of Telecommunications (DoT) approved the merger of Vodafone India and Idea Cellular which will create the country's largest mobile services operator. The department has asked Idea Cellular to pay Rs. 3,926 crore in cash for Vodafone's spectrum and furnish a bank guarantee of Rs. 3,342 crore. The combined operations of Idea and Vodafone will create the country's largest telecom operator worth more than over Rs. 1.5 lakh crore, with a 35% market share and a subscriber base of about 430 million.