The Indian government saw over Rs 20, crore in unpaid taxes by Vodafone, a report by the Hindu pointed out in This rule basically said that the government could dig up past deals, all the way back to GAAR was postponed to The government challenged the second arbitration as well stating 'the two claims were based on the same cause of action and seek identical reliefs but from two different tribunals constituted under two different investment treaties against the same host state'.
The success of the mega merger between Idea Cellular Ltd and Vodafone India Ltd depends largely on synergy benefits that can accrue by combining operations. Not surprisingly, the two companies are factoring in huge gains on this count. Vodafone and Idea said in a statement that annual savings, both in terms of operating costs as well as capital expenditure, will be around Rs14, crore annually by the fourth full year of operations as a combined entity.
The merger came in the aftermath of an unprecedented change that the Indian telecom landscape had undergone after the launch of Reliance Jio Infocomm Limited Jio in September The leading players in the industry, who were already facing financial challenges due to huge infrastructure costs and a high debt burden, faced more problems with the exodus of customers to Jio. To face the onslaught from Jio, the telecom operators went into consolidation mode, acquiring spectrum, small players, infrastructure, etc. With Jio growing stronger by the day with offers like free mobile handsets, and another competitor Airtel also looking at consolidation through acquisitions, Idea-Vodafone faced a tough road ahead.
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