According to several sources, S&R Associates partner Rajat Sethi and UK firm Slaughter and May partner Susannah Macknay have been advising Vodafone on its long-awaited Rs 80,000 crore ($12.2bn) merger with Idea, which was formally announced today.

Vodafone was also assisted on tax advice by long-standing legal advisers DMD Advocates and consultancy E&Y.

Shardul Amarchand Mangaldas partner Pallavi Shroff and partner Shweta Shroff assisted on competition law aspects on the deal for Vodafone.

Idea Cellular was advised by Vaish Associates partner Bomi Daruwala with principal associate Krishna Kishore, principal associate Amitjivan Joshi, and principal associate Yatin Narang.

Idea drafted in Bharucha & Partners partner Alka Bharucha with senior associates Ayesha Bharucha, Swathi Girimaji and Harshil Dalal on due diligence aspects of the deal.

Idea was also assisted on competition law aspects by AZB & Partners partner Nisha Kaur Uberoi and senior associate Soumya Hariharan.

The Sethi-led S&R team also included Tanya Aggarwal, Rachael Israel, Shivaji Bhattacharya, Lakshmi Pradeep, Raya Hazarika, Meher Mehta, Anita Srinivasan, Tarinee Sudan and Sushmita Sur on the corporate and regulatory side, and Simran Dhir and Natasha Aggarwal on competition law issues.

Bharucha has been a long-standing adviser of Idea’s, and S&R too has acted on Vodafone M&A in the past.

Story developing, continually updating with additional advisers and team names as firms release those.

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Moneycontrol reported today:

Idea Cellular on Monday announced that its board has approved the merger of Vodafone India and its wholly-owned subsidiary Vodafone Mobile Services Limited with itself in the process creating the country’s largest telecom entity.

According to a report by broking firm CLSA in January, the merged entity will have revenues of over Rs 80,000 crore, giving it a 43 percent market share by revenues and a 40 percent market share by active subscriber base. The behemoth will account for over 25 percent of allocated spectrum and will have to sell about 1 percent to comply with spectrum cap norms.