The shares will eventually be converted into equity shares at a fair market value determined on the date of conversion.
Idea, for the first time, witnessed a decline of 5.5 million mobile data customers on sequential quarter basis because of free data promotions by Jio.
The telco had 32 million customer for data services, including 23.4 million for 3G/4G services, in the third quarter.
The changes come amid Vodafone's preparation for a dogged fight in the Indian market at a time it is involved in merger talks with Idea Cellular.
Aditya Birla Group may have to cough up nearly Rs 25,150 crore to match Vodafone’s possible 37.5% stake in merged entity.
Sharma will take over from Chopra from April 1, a company spokesperson confirmed to ET. The COO since 2015, Chopra's next role is yet to be announced.
Vodafone’s Group CEO said their strong organic performance in South Africa and Turkey in Africa, Middle East and Asia Pacific (AMAP) region was partially offset by India.
Vodafone is stronger in the urban parts and has more users: 204.69 mn against Idea’s 190.52 mn, who are mostly in semi-urban & rural markets.
Sunil Sood, MD and CEO of Vodafone India Ltd, in a letter admitted that merger talks were preliminary, and that there was no certainty that the deal would go through.
Vodafone India, and Idea are reckoned to be in merger talks, with latest discussions locked over who will have operational control of the merged entity.
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