Vodafone confirms it’s in merger talks with Idea
New Delhi: Speculations about Vodafone India and Idea Cellular exploring a merger (no comment from either side on these reports) has resulted in the share price of Idea Cellular rising over 15 per cent since January 18. The merger would create India’s largest telecom company.
Shares of Idea Cellular surged 25 per cent intraday on Friday after London-based parent of Vodafone India confirmed that it is in discussions with the Aditya Birla Group about an all share merger of Vodafone India.
The merger would be effected through the issue of new shares in Idea to Vodafone and would result in Vodafone deconsolidating Vodafone India.