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Idea Cellular has called for a meeting of shareholders and creditors on October 12 to seek their approval for its merger with Vodafone India and Vodafone Mobile Services. In August, Idea had approached the National Company Law Tribunal for its approval for the merger. The tribunal had asked the company to convene a shareholders and creditors meeting for their approval. The multi-structure deal will see both Vodafone Group and Aditya Birla group holding 35.5 per cent stake each in the merged entity over time. The companies have so far received the approval of Competition Commission of India and the Securities and Exchange Board of India for the merger. Shares of Idea Cellular ended at ₹79.60, down 1.36 per cent, on the NSE.
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