New Delhi: British telecom major Vodafone said on Tuesday that it will remain competitive post-merger with Idea Cellular in the India market, which has seen huge disruption and turbulent tariff war with entry of new entrant Reliance Jio.
“We will remain competitive,” Vodafone CEO designate Nick Read told PTI. The top management of British telecom major Vodafone met communications minister Manoj Sinha and secretary Aruna Sundararajan following approval of its Indian arm with Idea Cellular. Read confirmed to have received the letter approving the merger. “We are happy to receive the letter,” he said.
The telecom sector has seen intense tariff war with entry of latest player Reliance Jio.
‘Industry to take few quarters to stabilise’
- Mired by intense competition and pricing pressures, the Indian telecom industry will take a few quarters more to stabilise according to a rating agency.
- ICRA said the competitive intensity was expected to moderate following the stabilisation of the merged Vodafone and Idea and reduction in the subscriber base of the exiting operators.
- It said by next fiscal, the industry is likely to witness better outlook.