NEW DELHI: The new entity which will emerge out of Idea-Vodafone will be able to roll out 5G in India much sooner, according to Vodafone PLC CEO Vittorio Colao.
Addressing Vodafone employees, he also said that it will accelerate availability of 4G services in India. Vittorio said that the new entity will offer best in class international and national roaming services.
Vittorio also asserted that in the new entity both Idea and Vodafone will be equal partners.
All About Idea-Vodafone Deal
Meanwhile, addressing Idea’s employees, K M Birla also asserted that the company has joined hands with Vodafone as equal partner.
Birla, who was addressing Idea CellularBSE -7.51 %’s employees, said that the merger will enhance stakehold value substantially and that it will create a customer base of 400 million for the new entity.
Birla also asserted that the mobile broadband infrastructure will be bedrock of new telecom era.
Idea, which is the fastest growing operator for last eight years, has invested Rs 11,5000 crore in last decade, Birla added.
Meanwhile, Vittorio said that India is an important market, where it employees 10,000 engineers and they also work for the Vodafone Global unit.
Vittorio said that the new entity will offer best in class international and national roaming services.
Asserting Vodafone’s commitment in the Indian market, Vittorio said that in the 90s the teleco started its journey in the country and have investment massively in the last ten years. Vittorio told Vodafone employees that this merger will create a greater professional opportunity for Indian employees.
Vodafone will own 45.1% in the combined entity after transferring 4.9% to the promoters of Idea Cellular for Rs 38,740 crore in cash post the merger. Kumar Mangalam Birla and other promoters of Idea Group will hold 26% and the rest will be owned by the public, as per a statement issued by the company.