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Business deals

India's Vodafone-Idea merger may be too late, as Jio accelerates growth

Jio posts another record user-base growth to top 215 million, cornering rivals in profitability

Since the Vodafone-Idea merger plans were announced in 2017, Reliance Jio's market share has doubled.   © Reuters

MUMBAI -- The megamerger of wireless carriers Vodafone India and Idea Cellular has received regulatory clearance after a year and a half, but the wait has cost them time during which billionaire Mukesh Ambani's disruptive Reliance Jio Infocomm has lapped up new subscribers.

Vodafone India and Idea Cellular, India’s second- and third-largest telecom companies by market share, will together displace market leader Bharti Airtel after one remaining regulatory nod from the National Company Law Tribunal.

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