Vodafone-Idea Merger is going to be the new telecom giant, with both the companies having given a thumbs up to form a joint business in an all-share deal, to take on the telecom majors Bharti Airtel and Reliance Jio.
Industrialist and chairman of the Aditya Birla Group group, Kumar Mangalam Birla appears to head the new telecom entity Vodafone-Idea combine, a report by Mint indicated.
Kumar Mangalam Birla likely is the unanimous choice for chairman in the event of a Vodafone-Idea merger and the new entity is likely to have a 12-member board, the report said.
A new Vodafone-Idea entity would have about 390 million users, exceeding current market leader Bharti Airtel’s 266 million. The combined entity will also be the largest by revenue market share.