{"id":82171,"date":"2017-09-09T09:17:02","date_gmt":"2017-09-09T09:17:02","guid":{"rendered":"http:\/\/usmalayali.com\/?p=82171"},"modified":"2023-09-14T15:51:03","modified_gmt":"2023-09-14T15:51:03","slug":"vodafone-merger-idea-shareholders-creditors-meeting-on-oct-12","status":"publish","type":"post","link":"https:\/\/usmalayali.com\/?p=82171","title":{"rendered":"Vodafone merger: Idea shareholders, creditors meeting on Oct 12."},"content":{"rendered":"<h5><span style=\"color: #ff0000;\">Johnson Cherian.<\/span><\/h5>\n<h5><span style=\"color: #000000;\">Idea Cellular will hold a meeting of shareholders and creditors on October 12 to seek their approval for the amalgamation of Vodafone India\u2019s business with itself.<\/span><\/h5>\n<h5><span style=\"color: #000000;\">The meeting of equity shareholders, secured creditors and unsecured creditors will be held in Gandhinagar, Gujarat. It is being convened following directions of the National Company Law Tribunal (NCLT) bench at Ahmedabad, Idea Cellular has said in a regulatory filing.<\/span><\/h5>\n<h5><span style=\"color: #000000;\">The meeting is being held \u201d&#8230;for the purpose of considering and if thought fit, approving with or without modification, the arrangement embodied in the composite scheme of amalgamation and arrangement among Vodafone Mobile Service Limited and Vodafone India Limited and Idea Cellular Limited,\u201d it said.<\/span><\/h5>\n<h5><span style=\"color: #000000;\">The company will start seeking shareholder\u2019s nod through postal ballot and e-voting from September 12 and close the process on October 11.<\/span><\/h5>\n<h5><span style=\"color: #000000;\">Idea had approached NCLT on August 8 after the Securities and Exchange Board of India (Sebi) and exchanges gave their conditional nod to the proposed $ 23-billion merger deal that would create the country\u2019s largest telecom operator.<\/span><\/h5>\n<h5><span style=\"color: #000000;\">The scheme, if approved at the meeting October 12, will be subject to the subsequent approval of NCLT.<\/span><\/h5>\n<h5><span style=\"color: #000000;\">The combined entity is expected to create a mobile services juggernaut with nearly 400 million users and 35 % market share in terms of customers, potentially toppling Bharti Airtel from its current pole position.<\/span><\/h5>\n<h5><span style=\"color: #000000;\">The deal gives Vodafone India an implied enterprise value of \u20b9 82,800 crore and Idea Rs 72,200 crore.<\/span><\/h5>\n<h5><span style=\"color: #000000;\">Post the transaction, the British firm will own 45.1 % stake in the merged entity while the Aditya Birla Group, Idea\u2019s parent, will own 26 % after paying Rs 3,874 crore in cash for a 4.9 % stake.<\/span><\/h5>\n<h5><span style=\"color: #000000;\">The remaining 28.9 % stake will be held by other shareholders.<\/span><\/h5>\n<h5><span style=\"color: #000000;\">NCLT has appointed Justice M S Shah, former Chief Justice of the Bombay High Court and in his absence Arun Thiagarajan, an independent director of the applicant company, to be the chairman of the said meeting.<\/span><\/h5>\n","protected":false},"excerpt":{"rendered":"<p>Johnson Cherian. Idea Cellular will hold a meeting of shareholders and creditors on October 12 to seek their approval for the amalgamation of Vodafone India\u2019s business with itself. The meeting of equity shareholders, secured creditors and unsecured creditors will be held in Gandhinagar, Gujarat. It is being convened following directions of the National Company Law [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":82172,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[61,44],"tags":[],"class_list":{"0":"post-82171","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-english","8":"category-news"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/usmalayali.com\/index.php?rest_route=\/wp\/v2\/posts\/82171","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usmalayali.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usmalayali.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usmalayali.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usmalayali.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=82171"}],"version-history":[{"count":1,"href":"https:\/\/usmalayali.com\/index.php?rest_route=\/wp\/v2\/posts\/82171\/revisions"}],"predecessor-version":[{"id":167234,"href":"https:\/\/usmalayali.com\/index.php?rest_route=\/wp\/v2\/posts\/82171\/revisions\/167234"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usmalayali.com\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/usmalayali.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=82171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usmalayali.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=82171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usmalayali.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=82171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}