The amalgamation of the two telecom giants will put them in a better position to contest a brutal new price war.
Idea will start selling 1GB and above mobile data plans across its 2G, 3G and 4G network at same price
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Google and Idea Cellular have announced operator billing for purchasing apps and other services without credit cards.
The deal will increase Bharti’s 4G coverage from the current 15 to 19 circles.
Idea shares closed 0.29 per cent higher at Rs 139.85 on the Bombay Stock Exchange. However, Videocon shares lost 1.92 per cent at Rs 130.30.
Bharti Airtel and Idea Cellular have hiked charges for postpaid customers by 20 percent in various circles, including the national capital.
Cumulatively, these three players put in bids worth Rs 89,396.92 crore, which is nearly a third of the total value of bids.
Revenues at the Sunil Mittal-promoted wireless carrier rose 13% to Rs 22,960 crore.
Idea Cellular, India’s third-biggest mobile phone operator, said first-quarter profit was $120.8 mn.
On a sequential basis, the firm has made a standalone net profit of Rs 513.8 crore. It is a rise of 29 per cent over Rs 398.1 crore in the December quarter.
Idea Cellular had posted a profit after tax of Rs 308.18 cr for the same period a year ago.
The Government expects to raise Rs 11,300 crore from the sale starting on February 3.
Trai chairman Rahul Khullar on Tuesday held discussions with heads of telecom firms on spectrum trading.
Investors worry Reliance Jio’s participation in auction will hurt telcos’ profitability.