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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


Bluetooth button to ensure women’s safety in Bengal

Kolkata, Aug 19 (UNI) A Bluetooth button to alert the authorities, including violence committed on women – that’s the latest effort by the state government’s Transport Department to improve safety while travelling.


Acer launches Predator Helios 300 gaming laptop at Rs 1,29,999

New Delhi, Aug 17 (UNI) Acer, one of the leading personal computer (PC) manufacturers, today expanded its gaming portfolio with the launch of Predator Helios 300 in India.


Mafe Mobile launches its new 4G -VoLTE smartphone ‘Shine M810’

New Delhi, Aug 8 (UNI) Mafe Mobile, a leading brand of affordable phones, has announced the launch of its latest 4G VoLTE ready smartphone the Shine M810.


Wipro partners with Excelfore for connectivity solutions

Mumbai, Aug 8 (UNI) IT Major, Wipro and Excelfore, a leading provider of middleware solutions for Smart Mobility Networks, today announced a global partnership to offer secure connectivity solutions for next generation smart and autonomous vehicles.


Smartphones to connect 445 million Indian users in three years

By Shubho Brota Dev Roy

New Delhi, Aug 6 (UNI) India who recently surpassed US to become the world’s second largest smartphone market in terms of users is projected to be the biggest market driver for smartphone sales in the next three years.