Birla To Head Merged Idea-Vodafone As Non-Executive Chairman

Billionaire owner of the Aditya-Birla group Kumar Mangalam Birla will head the merged entity of Idea Cellular Ltd. and Vodafone India that is set to become India’s largest telecom company.

Vodafone Group Plc had agreed to merge its Indian unit with Idea in March last year in a deal that would see Vodafone own 45 percent of the merged company. Birla’s holding companies will initially own 26 percent in the publicly traded company, with the right to equalise their stake by buying more from Vodafone. The two firms will share control of the entity, the operators had said previously. The merger is expected to be completed by March-end.

See the full list of appointees here.