Idea Cellular Ltd (IDEA.NS)
(The following statement was released by the rating agency) SINGAPORE, September 20 (Fitch) The financial performance of India's main incumbent telcos will be undermined by the regulator's plan to reduce the mobile termination rate (MTR) by 57% to INR0.06 per minute with effect from October 2017 and to remove it completely by January 2020, says Fitch Ratings. In contrast, the move should bring significant cost-savings and lead to faster-than-expected EBITDA break-even for recent entrant Reliance
* Co on Monday filed application before NCLT, Ahmedabad Bench, for approval of merger with Vodafone India, Vodafone Mobile Services Source text: http://bit.ly/2hEOTih Further company coverage:
* Exec says have no intention to subsidize handsets, working with phone vendors to make phones affordable
* FY18 capex guidance at 60 bln rupees (Adds details, background)
* June quarter blended churn 6.7 percent Source text - http://bit.ly/2tLONuV Further company coverage:
July 27 Idea Cellular Ltd, India's No. 3 telecoms firm, reported a third straight quarterly loss on Thursday, reeling in the wake of a price war wrought by new entrant to the sector, Reliance Jio.
* India's Idea Cellular Ltd June quarter consol loss 8.15 billion rupees
* Idea Cellular says "welcome decision of Competition Commission of India approving proposed merger of Vodafone India and Idea Cellular"
MUMBAI India's antitrust regulator has approved the merger of Vodafone Group Plc's Indian unit with Idea Cellular, a lawyer representing Vodafone in the matter said on Monday.
MUMBAI, July 24 India's antitrust regulator has approved the merger of Vodafone Group Plc's Indian unit with Idea Cellular, a lawyer representing Vodafone in the matter said on Monday.