Voda­fone con­firms merger dis­cus­sions with Idea Cel­lu­lar

Voice&Data - - TELCO BRIEFS -

Tele­com op­er­a­tor Voda­fone has con­firmed it is in talks over merg­ing its strug­gling In­dian busi­ness with Idea Cel­lu­lar, which is part of the Aditya Birla Group.

Voda­fone In­dia is the coun­try’s sec­ond-largest telco with nearly 400 mil­lion cus­tomers.

“Voda­fone con­firms that it is in dis­cus­sions with the Aditya Birla Group about an all share merger of Voda­fone In­dia (ex­clud­ing Voda­fone’s 42% stake in In­dus Tow­ers) and Idea. Any merger would be ef­fected through the is­sue of new shares in Idea to Voda­fone and would re­sult in Voda­fone de­con­sol­i­dat­ing Voda­fone In­dia. And that There is no cer­tainty that any trans­ac­tion will be agreed, nor as to the terms or tim­ing of any trans­ac­tion,” said Rose­mary Martin, Voda­fone Group Gen­eral Coun­sel and Com­pany Sec­re­tary in a state­ment.

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