Companies & Sectors
Idea Cellular, Vodafone India announce merger
New Delhi, In one of the biggest merger in the telecom space, Vodafone India and Aditya Birla Group-promoted Idea Cellular on Monday announced the much-awaited amalgamation.
 
Idea Cellular in a regulatory filing on Monday said, its Board of Directors "have approved the scheme of amalgamation of Vodafone India Limited and its wholly owned subsidiary Vodafone Mobile Service Limited with the company (Idea)."
 
Vodafone will own 45.1 per cent of the combined company, Idea said in a statement.
 
"The Aditya Birla Group will then own 26 per cent and has the right to acquire more shares from Vodafone under an agreed mechanism with a view to equalising the shareholdings over time," it added.
 
"For Idea shareholders and lenders who have supported us thus far, this transaction is highly accretive, and Idea and Vodafone will together create a very valuable company given our complementary strength," said Kumar Mangalam Birla, Chairman, Aditya Birla Group.
 
"The combination of Vodafone India and Idea will create a new champion of Digital India founded with a long-term commitment and vision to bring world-class 4G networks to villages, towns and cities across India," said Vittorio Colao, Chief Executive, Vodafone Group Plc.
 
"The combined company will have the scale required to ensue sustainable consumer choice in a competitive market and to expand new technologies - such as mobile money services - that have the potential to transform daily life of every Indian," he added.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 

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COMMENTS

SRINIVAS SHENOY

7 months ago

It is an informative write up of the proposed merger of the two telecom companies.

Satheesh Op

7 months ago

Badly researched article

Satheesh Op

7 months ago

Badly researched article

Robs T

7 months ago

Stop blaming banks man, rotate the cash which every one is doing Pooja at their homes. Stupid articles stipids, blaming is always easy man.

SEBI, BSE, NSE approve RCOM-Aircel deal
Reliance Communications (RCOM) has got approval of the SEBI, BSE and NSE for the proposed de-merger of its wireless division into Aircel, the company said on Wednesday.
 
"Reliance Communications has received approval of the Securities and Exchange Board of India (SEBI), BSE Ltd and National Stock Exchange of India Ltd (NSE) for the proposed Scheme of Arrangement for de-merger of the wireless division of the company into Aircel and Dishnet Wireless Ltd," a company statement said.
 
"Pursuant to the same, Reliance Communications Ltd has filed an application with the National Company Law Tribunal (NCLT), Mumbai Bench, for approval of the said Scheme. The proposed transaction is subject to other necessary approvals," it added.
 
Post closing, RCOM and the present shareholders of Aircel will hold 50 per cent each in Aircel.
 
Industrialist Anil Ambani-led RCOM and Aircel announced plans to merge their wireless operations on September 14, 2016 to give birth to an entity with assets worth Rs 65,000 crore. 
 
RCOM and Maxis Communications Berhad (MCB) will hold 50 per cent each in the merged entity with equal representation on the board and committees. 
 
The merged entity will have the second-largest spectrum holding among all operators, aggregating 448 MHz across the 850, 900, 1,800 and 2,100 MHz bands.
 
The transaction will reduce RCOM's debt by Rs 20,000 crore, while Aircel's debt would go down by Rs 4,000 crore on closing in 2017.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

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COMMENTS

Murali Kumar

7 months ago

Content and Title dosent match..

Only a few among the leading brands of food and beverages are of 'high nutritional quality'
No more than 12 per cent of beverages and 16 per cent of foods sold by nine leading Indian food and beverage companies were of "high nutritional quality", according to the Access to Nutrition Index India Spotlight, 2016, the first survey of its kind.
 
The index, created by Access to Nutrition Foundation, a Dutch non-profit, and funded by the Bill and Melinda Gates Foundation , evaluated the manufacturers' policies, practices, nutritional disclosures in India and globally. The nine companies assessed said they were committed to combat under-nutrition, but most did not produce or produced very few forti?ed packaged food products.
 
Fortification is the process of addition of micronutrients -- vitamins and minerals -- to foods to tackle nutritional deficiency. It is known to be an affordable and efficient way to improve micronutrient status in a population.
 
India is facing two opposing nutritional challenges: Malnutrition and increasing obesity, especially among children.
 
As many as 38.4 per cent of India's under five children are stunted, meaning low weight for height -- the highest such proportion of stunted children globally -- according to the National Family Health Survey, 2015-16 (NFHS-4), the latest available data.
 
At the same time, 135 million Indians are obese, according to a 2015 Indian Council of Medical Research study.
 
The consumption of packaged foods is increasing steadily nationwide, especially in urban areas, and the new nutrition index found that most do not address India's twin nutritional challenges.
 
The products of Delhi's Mother Dairy were ranked the healthiest of the nine companies assessed because 77 per cent of their sales came from drinking milk products. Hindustan Unilever and Britannia were ranked second and third. Nestlé India was ranked seventh.
 
The index based what it called the "product-profile rating" on nutritional quality of the products and relative sales of more and less healthy products. It also assessed compliance of the nine companies to Indian nutritional labelling regulations.
 
"Nestlé India is looking closely at the areas where the Index has recommended improvements," a Nestle India spokesperson told IndiaSpend over email. "We are trying to explore possibilities of fortifying products across portfolios. Some of our existing fortified products include Masala-e-Magic and CEREGROW."
 
Mother Dairy did not respond to our request for comment.
 
The index recommended that manufacturers improve their product profile by making nutritious products more affordable to low-income consumers, be more transparent about funding to industry organisations that lobby the government and about fortifying products.
 
Between 2-5 per cent of products were fortified with micronutrients lacking in Indian diets, the survey found. Wheat and milk products were mainly fortified with vitamins A, D, C and iron but most manufacturers do not fortify healthy products.
 
Iron deficiencies, for instance, are common in India because most Indians consume a high proportion of cereals and fewer animal products. India has the highest burden of iron-deficiency anaemia in the world -- a leading cause of disability.
 
"Moreover, other than one or two examples of companies using salt fortified with iodine to make their products, most do not commit to exclusively using fortified ingredients such as wheat or milk," the index noted.
 
Nestlé India topped the corporate profile ranking, with its policies, practices and disclosure on nutrition and undernutrition.
 
Food and beverage manufacturers have the potential to make an impact on India's nutritional challenges, as market shares of packaged food increase with lifestyle and income changes, said Inge Kauer, Executive Director, Access to Nutrition Foundation.
 
"Companies can make a difference by fortifying their products with micronutrients, selling smaller packets and making their products affordable," Kauer told IndiaSpend in a telephonic interview from Utrecht in the Netherlands.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Vjay Kumar

7 months ago

Hello I have read your blog on Only a few among the leading brands of food and beverages are of 'high nutritional quality This is an excellent resource.This will help me a lot with connecting to bloggers in my niche.
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Bhuvaneswaran K

7 months ago

Funded by Bill and Melinda gates... stopped reading after that... :(

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