Vodafone Idea launched a unified “Vi” brand on Monday, marking the completion of the merger between two telecommunications companies.
In launching the new brand, Ravindr Takkar, MD & CEO of Vodafone Idea Ltd said: “Vodafone Idea joined as a merged entity two years ago. Since then we have focused on integrating two large networks, our people and processes. And today I am delighted to introduce Vi, a brand that will bring significant meaning to the lives of our customers. “
Takkar further added, “The integration of the brand not only marks the completion of the world’s largest telecom merger, but also sets us on our future journey to bring world-class digital experiences to one billion Indians on our strong network. 4G “.
Photos related to the branding exercise were already circulating on Twitter showing the renovated stores with the new VI logo.
#vodaphone #vodaidea Brand change? Next Stock Multibagger pic.twitter.com/M57wywL6or
– Sushil Thakur (@ sktei007) September 6, 2020
Commenting on the rebrand, Kumar Mangalam Birla, Chairman of the Aditya Birla Group and Vodafone Idea Ltd, said: “India is the second largest telecom market and the largest consumer of data globally. With 1.2 billion Indians who access to voice and data services with the lowest rates in the world.In 5 lakh villages, the ubiquitous wireless network in India is unrivaled for its reach and impact on people’s lives. With our new brand -Vi, we We are committed to partnering with the government to accelerate India’s progress towards a digital economy, enabling millions of citizens to connect to the digital revolution and build a better tomorrow. “
Vodafone Idea shares were up 10 percent earlier today.
Vodafone Idea’s board of directors has approved fundraising of up to Rs 25 billion, which is critical for this debt-laden company to reduce debt and pay the additional burden of AGR dues according to the Supreme Court verdict.
The company believes that a single brand approach will reduce the cost of maintaining two brands and also improve operational efficiency.
