NCLT approves Idea-Vodafone unit merger - source
India`s National Company Law Tribunal (NCLT) has approved the merger of Idea Cellular Ltd and the Indian unit of Vodafone Group, according to a person familiar with the matter.
Idea, a part of the Aditya Birla conglomerate, and Vodafone signed a merger agreement last year, which could create the country`s biggest telecom operator. Approval from the Tribunal was the only outstanding regulatory requirement.
Both companies have declined to comment.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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