The National Company Law Tribunal (NCLT) has approved the proposed merger between Idea Cellular and Vodafone, a move that brings both the companies closer to culminating the deal.
“We wish to inform you that the Hon’ble National Company Law Tribunal, bench at Ahmedabad, vide its order dated January 11, 2018 has sanctioned the composite scheme of amalgamation and arrangement among Vodafone Mobile Services Limited and Vodafone India Limited and Idea Cellular Limited...,” Idea Cellular said in a regulatory note on Friday.
Both groups can go ahead for the final approval for merger from the Department of Telecom after Vodafone’s appeal for the scheme also gets NCLT nod.
