The Aditya Birla Group and Vodafone Group have commenced discussions regarding the ‘closing adjustments’ of the merger between their Idea Cellular and Vodafone India subsidiaries, the Business Standard reports. According to banking sources with knowledge of the matter, the new talks are focused on how to resolve the higher-than-projected losses incurred by Idea since the announcement of the tie-up back in March this year. In recent quarters Idea has seen its bottom line pummelled thanks to increased competition from upstart player Reliance Jio.
The merger got the nod from the Competition Commission of India in July, and a hearing in the National Company Law Tribunal for merger clearance is scheduled for later this month. Going forward, the deal is expected to close in the first half of 2018. Once completed, the merger will create India’s largest mobile operators in terms of subscribers.