On Monday, Vodafone Idea Ltd is going to announce its integration into a brand named ‘VI’. As per Mint’s report, the development comes as Vodafone India Ltd and Idea Cellular Ltd merger completed two successful years. This rebranding cab is a part of the company’s efforts to reduce the cost of maintaining two brands.
Actually, both companies continued with their independent branding and advertising campaigns, even after their merger in August 2018. Meantime, Idea has been a mass rural-focused brand, on the other hand, Vodafone trying to catch the urban crowd.
But the urban-rural appeal of the two brands took a hit under the current brand. Before this, the company announced a shift of its premium postpaid customer base to brand Vodafone from Idea. Also, the telco announced a fundraiser of up to ₹25,000 crores, out of which ₹15,000 crores could be raised immediately.
Reports suggest that e-commerce giant Amazon Inc and U.S. telco giant Verizon can invest around $4 billion (approx. ₹30,000 crores) in the Indian telecom company.
LIVE Updates: Announcement from Kumar Mangalam Birla, chairman of Aditya Birla Group, & Vodafone Idea Ltd
“We stand committed to partner govt to accelerate progress towards the digital economy. In their various avatars, since the mid-90s, Vodafone and Idea steered the growth of the sector for decades separately. Both companies have set new benchmarks in network experience, rural connectivity, customer service, enterprise mobility solutions, and many more.”