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Vodafone,Idea hold talks over Indian merger
REUTERS
Published : Jan 30, 2017, 2:12 pm IST
Updated : Jan 30, 2017, 2:18 pm IST
The merger would involve Idea issuing new shares to Vodafone and would result in Vodafone deconsolidating Vodafone India.
The all-share deal that could help the groups counter the fierce competition in the market.
London: Vodafone said on Monday it was in talks to merge its Indian operations with rival Idea Cellular in an all-share deal that could help the groups counter the fierce competition in the market.
In a short statement, Vodafone said it was in talks with Idea's parent, conglomerate Aditya Birla. It said any merger would involve Idea issuing new shares to Vodafone and would result in Vodafone deconsolidating Vodafone India.
Shares in Vodafone were up 3.5 percent in early trading.
