Vodafone – Idea have made an announcement about the new brand name “Vi”. The rebranding brings a “fresh start” after the biggest telecom merger between British telecom giant Vodafone India and billionaire Kumar Mangalam Birla’s Idea Cellular that happened 3 years ago.
Vodafone Group CEO, Nick Red spoke at a virtual conference on Monday, “ As the integration of two businesses is now complete, it’s time for a fresh start. That’s why we believe that now is the perfect time to launch Vi, one company which provides the strength of Vodafone India and Idea.”
The company approved fundraising of up to ₹ 25,000 crore by an integration of equity and debt instruments when it owes ₹ 50,000 crores in dues to the government. The dues, as announced recently as per Supreme Court order, will have to be paid over a period of 10 years.
