Vodafone confirms merger talks with Idea Cellular
Finally, we have the confirmation from Vodafone India about the merger talks with Idea. Vodafone India has confirmed its merger with Aditya Birla Group’s Idea Cellular for an all-share deal.
If this merger becomes successful, it will create India’s largest telecom company with revenues of over Rs. 80,000 crores.
In a press statement, Vodafone India confirmed that idea will issue new shares to Vodafone and Vodafone will be deconsolidating Vodafone India as a part of the deal.
As of now, both companies are in talks and no decision has been taken. This is just to confirm that both companies are talking to see the possible merger.