Mar 20, 2017
Vodafone deal creates India mobile giant
Analysts say the merger was to fend off competition from a new operator - Reliance Jio. Owned by the country's richest man, Mukesh Ambani, Jio has forced Vodafone India and Idea Cellular, together with current market leader Bharti Airtel, to cut prices. Shares in Idea rose almost 4% in Mumbai following the announcement of the deal. India's leading mobile networks are embroiled in what analysts have described as "a vicious price war", started by the arrival of Jio. That has forced firms to keep tariffs low - significantly impacting their profitability.
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