$\"\"$ MUMBAI: London-headquartered Vodafone<\/a> and Kumar Birla-controlled Idea Cellular on Monday announced India<\/a> Inc’s biggest-ever merger to create the country’s undisputed leader in the world’s second largest telecom market after China.
\n
The combined 394-million subscriber base of India’s second and third largest telcos will eclipse Bharti Airtel<\/a>’s 270 million – and catapult the merged company to No 2 spot globally.
\n
It could also alter the landscape of an industry<\/a> that’s facing cut-throat competition from Mukesh Ambani’s recently-launched Reliance<\/a> Jio. TOI was the first to write, in its edition of January 28, that Vodafone and Idea were in advanced discussions for a merger (there had been some speculation last year, also reported by TOI, but nothing had come of it at the time).
\n
The mega-merger will create a company that will be No. 1 or a strong No. 2 in all telecom circles except Jammu & Kashmir. Voda’s 204 million subscribers and Idea’s 190 million (at the end of 2016) will give them a combined market share<\/a> of 35%. Aggregate revenues of over Rs 80,000 crore represent 42% of the national pie.
\n
\nVodafone’s global CEO Vittorio Colao told TOI in a joint interview with Birla that the consolidation was driven primarily by the “arrival of data, which is very capital heavy and consumes a lot of spectrum” – along with reasons like synergy and cost savings.Although Vodafone will hold 45% and Idea Cellular 26% stake in the post-merger company, which is being valued at $23 billion, they will have equal voting rights (again, TOI had reported on Jan 28 that Idea was pressing for it).
\n
\nThe combine – the name and brand identity of which will be decided in due course – will be jointly managed with three representatives each on a 12-member board. Birla will take over as chairman of the new entity upon the completion of the deal in 2018.
\n
\nWhile the two sides will together decide on the CEO, Idea’s Himanshu Kapania is expected to steer the combined operations; the choice of chief financial officer will be Vodafone’s.
\n
\nThe transaction gives Idea the option to buy 9.5% stake in the new company over the next four years at Rs 130 per share. If Birla chooses not to exercise the option, Vodafone will sell down shares to equalize its shareholding with Idea. On January 30, two days after the TOI report, Vodafone and Idea had confirmed they were in talks.
\n
\nOn Monday, they maintained that the merger would not breach subscriber and spectrum threshold limits in a big way (only in five circles, according to telecom analysts) as reported by this newspaper on January 28. Perhaps in a bid to bring about near-parity between the two, the merger excludes the Vodafone’s 42% interest in Indus Towers while valuing the British telecom giant unlisted Indian subsidiary at $12.4 billion (Rs 82,000 crore), but includes Mumbai-listed Idea’s 11% stake in Indus in its $10.8 billion (72,000 crore) valuation.
\n
Analysts viewed the deal making as a strategic retreat for Vodafone from a lossmaking market where it has written off $9 billion till date. Jio’s freebies have pushed incumbents into a corner with Bharti Airtel<\/a>, Vodafone and Idea posting quarterly losses.
\n
In 2007, Vodafone stepped into Indian market when it paid Hutchison Whampoa<\/a> $11 billion for controlling stake, and later coughed up another $5.5 billion to buy out the 33% held by the Ruias of Essar.
\n
\nVodafone has since invested billions in multiple rounds of spectrum auctions even as competition ate into pricing power in what was once hailed as one of the world’s most promising telecom markets. Losses from the Indian business have weighed down Vodafone’s global results in the recent past and prompted its CEO to consider ‘de-consolidation’.
\n
\nThe merger will also strengthen Birla’s hand in a bruising war, providing him a leadership platform and a bigger balance sheet to take on rivals, including Jio. Idea shares have been beaten down – until the merger speculation gained credence – as it was considered to be the weakest among the top three to face the Jio onslaught.
\n
\nIdea shares gyrated wildly rising 15% in morning trade but subsequently declined 10% indicating investor apathy with the deal construct. Both Vodafone and Idea played down the market volatility stating it would take markets “a while to digest details of a complex transaction”. “For Idea shareholders and lenders who have supported us thus far, this transaction is highly accretive, and Idea and Vodafone will together create a very valuable company given our complementary strengths,” Birla said. “The combined company will have the scale required to ensure sustainable consumer choice in a competitive market and to expand new technologies that have the potential to transform daily life,” Colao added.
\n\n<\/body>","next_sibling":[{"msid":57745215,"title":"We remain invested in a co of bigger size: Colao","entity_type":"ARTICLE","link":"\/news\/we-remain-invested-in-a-co-of-bigger-size-colao\/57745215","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":57745258,"entity_type":"ARTICLE","title":"Partial retreat for Voda from losing mkt, sweet deal for Idea?","synopsis":"The combined 394-million subscriber base of India\u2019s second and third largest telcos will eclipse Bharti Airtel\u2019s 270 million \u2013 and catapult the merged company to No 2 spot globally.","titleseo":"telecomnews\/partial-retreat-for-voda-from-losing-mkt-sweet-deal-for-idea","status":"ACTIVE","authors":[{"author_name":"Boby Kurian","author_link":"\/author\/479243951\/boby-kurian","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479243951.cms?width=100&height=100&hid=268","author_additional":{"thumbsize":false,"msid":479243951,"author_name":"Boby Kurian","author_seo_name":"Boby-Kurian","designation":"Journalist","agency":false}},{"author_name":"Partha Sinha","author_link":"\/author\/10593\/partha-sinha","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/10593.cms?width=100&height=100&hid=268","author_additional":{"thumbsize":true,"msid":10593,"author_name":"Partha Sinha","author_seo_name":"Partha-Sinha","designation":"Senior Assistant Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"TNN","artdate":"2017-03-21 09:12:58","lastupd":"2017-03-21 09:14:45","breadcrumbTags":["Vodafone","India","market share","Reliance","Airtel","industry","Bharti Airtel","Hutchison Whampoa","reliance jio toi"],"secinfo":{"seolocation":"telecomnews\/partial-retreat-for-voda-from-losing-mkt-sweet-deal-for-idea"}}" data-authors="[" boby kurian","partha sinha"]" data-category-name="" data-category_id="" data-date="2017-03-21" data-index="article_1">

Telecom乐动扑克News

从失去部分撤退Voda mkt,甜蜜的交易想法吗?

印度的3.94亿用户基础的第二和第三大电信公司将eclipse Bharti Airtel的2.7亿- 2号和弹射器合并后的公司全球现货。

波比库里&帕Sinha,
TNN

更新2017年3月21日09:14点坚持

孟买:来源沃达丰(Vodafone)Kumar Birla-controlled想法细胞周一宣布印度公司有史以来最大的合并创建国家无可争议的领导人在中国之后的世界第二大电信市场。

印度的3.94亿用户基础的第二和第三大电信公司将eclipseBharti Airtel2.7亿-和弹射器全球合并后的公司没有2点。

它还可以改变的风景行业这是面对激烈的竞争从穆凯什•安巴尼的新发布的依赖Jio。钢铁洪流是第一个写的版本1月28日,沃达丰和想法进行了深入讨论合并(去年有一些猜测,也由钢铁洪流,但什么也没来)。

巨型合并将创建一个公司,将1号或2号强在所有电信圈除了查谟和克什米尔。Voda 2.04亿订阅者和想法的1.9亿(2016年底)将给他们一个的总和市场份额的35%。总营收超过80000卢比代表42%的国家派。

沃达丰首席执行官维托里奥·科劳全球贝拉告诉本报联合采访,整合驱动主要由“资本到来的数据,这是非常沉重的,消耗很多频谱”——以及协同和节约成本的原因。尽管沃达丰将持有45%和想法细胞合并后公司26%的股份,价值230亿美元,他们会有平等的选举权(钢铁洪流,1月28日报道,想法是要求)。

结合——的名称和品牌标识将决定在适当的时候,将共同管理三个代表每一个由12人组成的董事会。贝拉将接任主席的新实体在2018年交易的完成。

虽然双方将共同决定首席执行官,想法的Himanshu Kapania预计将引导联合作战;的选择将沃达丰的首席财务官。

事务使想法购买新公司9.5%的股份在未来四年在每股130卢比。如果贝拉选择不行使期权,沃达丰将出售股票来平衡其股权与想法。1月30日,钢铁洪流报告两天后,沃达丰(Vodafone)和想法已经确认他们在谈判。

周一,他们坚持认为,合并不会违反用户和光谱阈值限制在很大程度上(只在五圈,根据电信分析师)据本报1月28日。乐动扑克也许为了带来方面,合并排除了沃达丰的42%的利息在印度河塔评估英国电信巨头未上市的印度子公司124亿美元(82000卢比),但包括firstsource想法的印度11%的股份(72000卢比)估值108亿美元。

分析师认为,并购交易的战略退却沃达丰从一个亏损的市场,至今已注销90亿美元。Jio的免费赠品与Bharti现有推到一个角落里附近的旅馆,沃达丰(Vodafone)和发布的季度亏损。

2007年,沃达丰走进印度市场时支付和记黄埔(Hutchison Whampoa)110亿美元的控股权,后来咳嗽了另外55亿美元买下Essar的鲁雅兄弟持有的33%。

沃达丰已经投资了数十亿美元的多次频谱拍卖,即使吃到定价权竞争曾经被誉为世界上最有前途的电信市场。从印度业务亏损拖累沃达丰全球结果在最近的过去和促使其CEO考虑“de-consolidation”。

合并还将加强贝拉的手在战争激烈,提供他一个领导平台和一个更大的资产负债表进行竞争对手,包括Jio。想法股票受到打压,直到并购传言得到了信任,因为它被认为是最弱的三大面对Jio猛攻。

想法股票波荡起伏在早上贸易上升15%,但随后下跌10%表明投资者冷漠与交易结构。沃达丰(Vodafone)和观念淡化的市场波动说市场”一段时间消化”的复杂交易的细节。“股东和银行支持我们到目前为止,这个事务高度粘连的,想法和沃达丰将一起创建一个非常有价值的公司给我们的互补优势,”贝拉说。“合并后的公司将会确保可持续消费选择所需的规模在竞争激烈的市场和扩大新技术有可能改变日常生活,”科劳补充道。

发布于2017年3月21日09:12点坚持

$\"\"$ MUMBAI: London-headquartered Vodafone<\/a> and Kumar Birla-controlled Idea Cellular on Monday announced India<\/a> Inc’s biggest-ever merger to create the country’s undisputed leader in the world’s second largest telecom market after China.
\n
The combined 394-million subscriber base of India’s second and third largest telcos will eclipse Bharti Airtel<\/a>’s 270 million – and catapult the merged company to No 2 spot globally.
\n
It could also alter the landscape of an industry<\/a> that’s facing cut-throat competition from Mukesh Ambani’s recently-launched Reliance<\/a> Jio. TOI was the first to write, in its edition of January 28, that Vodafone and Idea were in advanced discussions for a merger (there had been some speculation last year, also reported by TOI, but nothing had come of it at the time).
\n
The mega-merger will create a company that will be No. 1 or a strong No. 2 in all telecom circles except Jammu & Kashmir. Voda’s 204 million subscribers and Idea’s 190 million (at the end of 2016) will give them a combined market share<\/a> of 35%. Aggregate revenues of over Rs 80,000 crore represent 42% of the national pie.
\n
\nVodafone’s global CEO Vittorio Colao told TOI in a joint interview with Birla that the consolidation was driven primarily by the “arrival of data, which is very capital heavy and consumes a lot of spectrum” – along with reasons like synergy and cost savings.Although Vodafone will hold 45% and Idea Cellular 26% stake in the post-merger company, which is being valued at $23 billion, they will have equal voting rights (again, TOI had reported on Jan 28 that Idea was pressing for it).
\n
\nThe combine – the name and brand identity of which will be decided in due course – will be jointly managed with three representatives each on a 12-member board. Birla will take over as chairman of the new entity upon the completion of the deal in 2018.
\n
\nWhile the two sides will together decide on the CEO, Idea’s Himanshu Kapania is expected to steer the combined operations; the choice of chief financial officer will be Vodafone’s.
\n
\nThe transaction gives Idea the option to buy 9.5% stake in the new company over the next four years at Rs 130 per share. If Birla chooses not to exercise the option, Vodafone will sell down shares to equalize its shareholding with Idea. On January 30, two days after the TOI report, Vodafone and Idea had confirmed they were in talks.
\n
\nOn Monday, they maintained that the merger would not breach subscriber and spectrum threshold limits in a big way (only in five circles, according to telecom analysts) as reported by this newspaper on January 28. Perhaps in a bid to bring about near-parity between the two, the merger excludes the Vodafone’s 42% interest in Indus Towers while valuing the British telecom giant unlisted Indian subsidiary at $12.4 billion (Rs 82,000 crore), but includes Mumbai-listed Idea’s 11% stake in Indus in its $10.8 billion (72,000 crore) valuation.
\n
Analysts viewed the deal making as a strategic retreat for Vodafone from a lossmaking market where it has written off $9 billion till date. Jio’s freebies have pushed incumbents into a corner with Bharti Airtel<\/a>, Vodafone and Idea posting quarterly losses.
\n
In 2007, Vodafone stepped into Indian market when it paid Hutchison Whampoa<\/a> $11 billion for controlling stake, and later coughed up another $5.5 billion to buy out the 33% held by the Ruias of Essar.
\n
\nVodafone has since invested billions in multiple rounds of spectrum auctions even as competition ate into pricing power in what was once hailed as one of the world’s most promising telecom markets. Losses from the Indian business have weighed down Vodafone’s global results in the recent past and prompted its CEO to consider ‘de-consolidation’.
\n
\nThe merger will also strengthen Birla’s hand in a bruising war, providing him a leadership platform and a bigger balance sheet to take on rivals, including Jio. Idea shares have been beaten down – until the merger speculation gained credence – as it was considered to be the weakest among the top three to face the Jio onslaught.
\n
\nIdea shares gyrated wildly rising 15% in morning trade but subsequently declined 10% indicating investor apathy with the deal construct. Both Vodafone and Idea played down the market volatility stating it would take markets “a while to digest details of a complex transaction”. “For Idea shareholders and lenders who have supported us thus far, this transaction is highly accretive, and Idea and Vodafone will together create a very valuable company given our complementary strengths,” Birla said. “The combined company will have the scale required to ensure sustainable consumer choice in a competitive market and to expand new technologies that have the potential to transform daily life,” Colao added.
\n\n<\/body>","next_sibling":[{"msid":57745215,"title":"We remain invested in a co of bigger size: Colao","entity_type":"ARTICLE","link":"\/news\/we-remain-invested-in-a-co-of-bigger-size-colao\/57745215","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":57745258,"entity_type":"ARTICLE","title":"Partial retreat for Voda from losing mkt, sweet deal for Idea?","synopsis":"The combined 394-million subscriber base of India\u2019s second and third largest telcos will eclipse Bharti Airtel\u2019s 270 million \u2013 and catapult the merged company to No 2 spot globally.","titleseo":"telecomnews\/partial-retreat-for-voda-from-losing-mkt-sweet-deal-for-idea","status":"ACTIVE","authors":[{"author_name":"Boby Kurian","author_link":"\/author\/479243951\/boby-kurian","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479243951.cms?width=100&height=100&hid=268","author_additional":{"thumbsize":false,"msid":479243951,"author_name":"Boby Kurian","author_seo_name":"Boby-Kurian","designation":"Journalist","agency":false}},{"author_name":"Partha Sinha","author_link":"\/author\/10593\/partha-sinha","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/10593.cms?width=100&height=100&hid=268","author_additional":{"thumbsize":true,"msid":10593,"author_name":"Partha Sinha","author_seo_name":"Partha-Sinha","designation":"Senior Assistant Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"TNN","artdate":"2017-03-21 09:12:58","lastupd":"2017-03-21 09:14:45","breadcrumbTags":["Vodafone","India","market share","Reliance","Airtel","industry","Bharti Airtel","Hutchison Whampoa","reliance jio toi"],"secinfo":{"seolocation":"telecomnews\/partial-retreat-for-voda-from-losing-mkt-sweet-deal-for-idea"}}" data-news_link="//www.iser-br.com/news/partial-retreat-for-voda-from-losing-mkt-sweet-deal-for-idea/57745258">

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