Vodafone confirms talks with Idea for merger


New Delhi, Jan 30 (IANS) Ending months of speculation, Vodafone on Monday confirmed it is in talks with the Aditya Vikram Birla group for the merger of its Indian entity and Idea Cellular in what will be the largest such deal in the country's telecom space once it materialises.

"Vodafone confirms that it is in discussions with the Aditya Birla Group about an all share merger of Vodafone India -- excluding Vodafone's 42 per cent stake in Indus Towers -- and Idea," the Indian entity's parent company said in a statement.

"Any merger would be effected through the issue of new shares in Idea to Vodafone and would result in Vodafone deconsolidating Vodafone India."

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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.

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