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Electronics & Gizmos Share

Idea-Vodafone announce merger; to be largest telecom player

Idea-Vodafone announce merger; to be largest telecom player

New Delhi, Mar 20 (UNI) Aditya Birla Group's company Idea Cellular today said its board has given approval for amalgamation with UK’s Vodafone India and its wholly-owned subsidiary Vodafone India Mobile Services. The merger will create country’s largest mobile phone company with about 400 million customers, 35 per cent customer market share and 41 per cent revenue market share. Once the amalgamation becomes effective, the entire business entities of Vodafone India Limited (VIL) and Vodafone India Mobile Services will vest in the company, except VIL’s investment in Indus Towers Limited, its international network and information technology platform, Idea said in a filing to Bombay Stock Exchange (BSE). Under the merger, Vodafone will own 45.1 per cent of the merged entity, after it transfers about 4.9 per cent to promoters of Idea and/or their affiliates for Rs 38.74 billion rupees, it added. Idea will have the sole right to appoint the chairman while Vodafone has right to appoint CFO of company. Shares in Idea rose as much as 14.25 per cent immediately after the merger news was reported but gave up gains to be trading up by 3.8 per cent. Vodafone and Idea began talks for a possible merger in late January this year. On amalgamation of VMSL becoming effective, the company shall issue shares of co to VIL equal to 47 per cent of post issue paid-up capital of co. Board of combined entity will be comprised of 12 directors including 3 directors appointed by each of Vodafone and Aditya Birla Group Promoters of both the companies will have right to nominate 3 directors each. Agreement contemplates completion of proposed amalgamation with a period of 24 months. UNI ASH SV ADG 1216


MobiKwik launches Travel Pass

New Delhi, Oct 20 (UNI) Indian mobile wallet major, MobiKwik, on Friday announced the launch of Travel Pass.


Detel India introduces brand new mobile phone at Rs 299

New Delhi, Sep 30 (UNI) The Indian mobile company Detel India has introduced mobile handsets ‘Detel D1’ at a price of as low as Rs 299 with most of the basic features in it.


I phone 8, 8 Plus launched in India, sales start at 1800 hrs

New Delhi, Sep 29 (UNI) Apple and Jio launched the much awaited I phone 8 and 8 plus in India on Friday.


Google to acquire HTC's Pixel smartphone division in $1.1 bln deal

* HTC's Pixel smartphone team will join Google * The cash deal expected to close by early 2018 * Google will have access to HTC's IP * HTC will continue to run its remaining phone business By Jess Macy Yu TAIPEI, Sept 21 (Reuters) Alphabet Inc's Google said it would pay $1.


Samsung mobile offers 'Never Mind' sop for UP buyers

Lucknow, Sep 20 (UNI) Samsung India today announced the “Never Mind” offer for its smart phone buyers in Uttar Pradesh this festive season.