Nearly two years after a merger, Vodafone Idea on September 7 rebranded itself as Vi (read as We). Vodafone Plc’s Indian arm had merged with Idea Cellular in August 2018 but the telcos maintained two different brands.
Through the unified brand Vi, the company hopes to attract more subscribers by betting big on digital.
“The integration of two brands is a culmination of the largest telecom integration in the world,” the company said in a statement.
Shares of Vodafone Idea surged 10 percent in morning trade before the annoucement.
Vodafone Idea is making efforts to keep its business running in India, after the Supreme Court gave telecom companies 10 years to pay adjusted gross revenue dues (AGR) dues.
Vodafone Idea owes slightly over Rs 50,000 crore to the Department of Telecommunications (DoT) as AGR-related dues.
Vodafone Idea and Bharti Airtel had lost around 47 lakh wireless subscribers each in May 2020, according to TRAI data released in August.
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The board of Vodafone Idea on September 4 approved fundraising up to Rs 25,000 crore.
(This is a developing story. Please check back for updates.)