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Vodafone confirms talks to merge Indian business with Idea

Staff Writer |
Vodafone has confirmed it is in talks over merging its Indian business with Idea Cellular, part of the Aditya Birla Group.

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Vodafone made the announcement following recent speculation in the media about a combination of Vodafone India and Idea.

Vodafone said the discussions concerned an all-share merger of Vodafone India, excluding the UK company's 42% stake in Indus Towers, with any merger effected through the issue of new shares in Idea to Vodafone and would result in Vodafone deconsolidating Vodafone India.

It stressed that there was no certainty that any transaction will be agreed, nor as to the terms or timing of any transaction.

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