INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Idea Cellular declined 2 per cent on Wednesday after DoT rejected its plea along with that of Vodafone India to revisit their
final seal of approval on their merger at the earliest
The stock fell 2 per cent to hit a low of Rs 51.40 on the BSE.
Under a conditional merger nod given two weeks ago, DoT demanded Rs 7,268
crore upfront payment as dues
It is split between a bank guarantee of Rs 3,342 crore on account of one-time spectrum charges claimed from Idea, and cash payment of Rs
3,926 crore towards market price for non-auctioned airwaves held by Vodafone India
The completion of the deal has already crossed the deadline of June-end set by the two companies
