In a major development for the telecom sector, the Vodafone Group has announced receiving approval from the government to join in with Idea Cellular Ltd.
It is said that the Department of Telecommunication has approved the merger provided arrears amounting to as much as Rs. 72.5 billion ($1.1 billion) are paid to the government.
It is also now said that the outstanding amount is for airwaves.
The combination will create India’s largest mobile-phone company and help take on the massive competition from billionaire Mukesh Ambani’s Reliance Jio Infocomm Ltd.
The Jio, it be known, is the world’s second-largest mobile-phone market by offering free calls and cheap data.
The merger, announced in March 2017, will topple current market leader Bharti Airtel Ltd. and create a behemoth with 438.8 million