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Idea, Vodafone biz on a rapid decline

DNMUM402609 | 12/8/2017 | Author : Mansi Taneja | WC :532

Business of both telecom firms has deteriorated since announcement of their merger earlier this year

New Delhi: Vodafone and Idea Cellular seem to be racing against time as they head for a merger that will create the biggest telecom firm in India.
The Street is watching with trepidation the timelines for the merger, which are critical to prevent further erosion in market share and Ebitda of Idea Cellular. The businesses of both Vodafone-Idea has deteriorated since the merger announcement three quarters back. More than 90% of the expected operational expenditure synergies have been lost and combined Ebitda run-rate has fallen 31%, driven by about 12% drop in revenues, according to an analyst report by Credit Suisse dated December 6.
“Timelines on merger approvals are critical to prevent further marketshare/Ebitda erosion for Idea
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