The proposed merger between Vodafone India and Idea Cellular is expected to completed by 2018.

The merger has received the approval of the Competition Commission and other regulatory clearances are expected over the next few months.

Kumar Mangalam Birla, Chairman, Idea Cellular, and Vittorio Colao, Chief Executive, Vodafone Group said in a joint statement, “We welcome the decision of the Competition Commission of India approving the proposed merger of Vodafone India and Idea Cellular, following its comprehensive review of the transaction. It is expected that other statutory approvals will be forthcoming and we anticipate completing the transaction during 2018.”

“The proposed combination of Vodafone India and Idea will create a new champion of Digital India. We remain fully committed to fulfilling the Digital India vision of the Honourable Prime Minister and the government and will connect villages, towns and cities across India with world class 4G/4G+ networks. The continuing ease of doing business in the country helps ensure that this vision for a digitally connected India is fast becoming a reality.” they added. The merged entity will not only be the largest telecom operator in terms of subscriber base, but also will be the biggest in terms of revenue and spectrum holding.

It will have nearly 400 million customers, 35 per cent customer market share and 41 per cent revenue market share.