Voda­fone, Idea Could Seal a Merger Pact Within a Month

The Economic Times - - Companies: Pursuit Of Profit -

UK’s Voda­fone and Idea Cel­lu­lar are likely to fi­nalise within a month the mega merger deal that will cre­ate In­dia’s largest tele­com firm, ac­cord­ing to sources. “The com­pa­nies are likely to an­nounce a de­fin­i­tive sign­ing agree­ment by Fe­bru­ary 24-25,” says a source. “They are al­most ready to sign the agree­ment and should not take more than a month to an­nounce it,” ac­cord­ing to an­other source. How­ever, both Voda­fone and Idea de­clined to com­ment. Voda­fone has brought its ex-In­dia unit chief Marten Pi­eters to work on the pro­posed merger. Voda­fone Group CEO Vit­to­rio Co­lao is also likely to brief all busi­ness heads of the In­dian arm next week about the pro­posed merger. — PTI.

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