Info-tech

Apex court asks Vodafone to pay ₹2,000 cr for merger of licences

PTI New Delhi | Updated on January 22, 2018 Published on November 24, 2015

The Supreme Court has asked Vodafone Mobile Services Ltd (VMSL) to pay ₹2,000 crore to the government in pursuance of the proposed merger of licenses of its four entities into itself.

A bench headed by Justice J S Khehar said the central government would approve the merger as soon as the amount is paid to it by the firm.

The order came on the plea of the government filed against the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) order allowing provisional merger of the licences of four entities.

Vodafone India plans to merge Vodafone East, Vodafone Cellular, Vodafone South and Vodafone Digilink into VMSL as a precursor to what is expected to be one of the larger initial public offerings (IPO) in India.

Vodafone needed to pay ₹6,678 crore to the government under various heads for the merger to go through, Additional Solicitor General P S Narasimha, appearing for the government, said.

Published on November 24, 2015
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