Vodafone, Idea tie-up creates India's biggest telecom firm

AFP


British mobile phone giant Vodafone will merge its Indian unit with Idea Cellular to create the country's largest telecoms operator, the firms said Monday, as they combine to fight a price war sparked by the country's richest man.

The confirmation ended months of speculation that the two operators were ready to sign a deal to help fend off the Mukesh Ambani-backed Reliance Jio, whose recent arrival has shaken up India's ultra-competitive mobile network market.

"Vodafone Group Plc and Idea Cellular today announced that they have reached an agreement to combine their operations in India," they said in a statement to the Bombay Stock Exchange .