The merger with Idea will be completed sometime in 2018. Regulation permits one year for the market share of the merged entity to settle at or below 50% in each circle. Management?s view that this plus some assumed ramp-up in JIO's market share plus various market
interventions should be enough to avoid value destruction in the excess RMS circles is plausible, though the complexity of the merger in trying circumstances may result in market share erosion in other circles also.
The stated estimated cost synergies of Vodafone and Idea Merger worth US$10bn are regardless of the final RMS.
