Vodafone India is striking a deal to acquire You Broadband. The deal may close in approximately 4 billion, as per reported by Economic Times.

The deal is result of six months of closed talk between two companies, and now requires approval of Foreign Investment Promotion Board, India. ET also reported that the deal is close and will happen anytime soon.

Vodafone India is acquiring You Broadband

You Broadband whose parent company is RG Capital has approximately 3,000km of fiber optic and 6,000km of last mile cable, which is laid across 12 cities. This also includes Mumbai, which is a significant market for Vodafone in India.

Competition is likely to get at its peak when a new player Jio Reliance will enter with its 4G capabilities, which is expected to arrive later this year, and the linkup will backed by Vodafone India’s fiber backhaul proficiencies.

By acquiring You Broadband as whole, Vodafone India could be able to offer bundled packages across several cities in the country.

The formal announcement is expected to come across once FIPB holds its monthly meeting, elaborated ET.