Vodafone and Idea join forces in to take on Jio in India's 'vicious' price war

In the latest development in the struggle for domination of India’s mobile telecoms market, UK giant Vodafone’s wholly-owned India Mobile Services and the  domestic Idea Cellular operator are to join forces, it was announced yesterday. The result of the merger will be to create India’s largest mobile phone company with approximately 400 million customers representing 36% of the country’s mobile phone users and 41% of revenues. Vodafone will control 45.1% of the new entity and Idea 26%, with the rest in public ownership.
The merger is expected to take 18 to 20 months to complete and to result in an unspecified number of job losses as part of efforts to trim costs. The merger is a direct response to what analysts are describing as the “vicious price war” triggered by billionaire Mukesh Ambani’s – India’s richest man’s – $25bn investment into his cut-price Jio Reliance network.
There are now more than ten telecoms operators battling it out to capture the hearts, minds and pockets of India’s one billion mobile phone users.

Source: bbc