LONDON Jan 30 Vodafone stated on Monday it was in talks to merge its Indian operations with rival Idea Cellular in an all-share deal that might assist the teams counter the fierce competitors available in the market.
In a brief assertion, Vodafone stated it was in talks with Idea’s guardian, conglomerate Aditya Birla. It stated any merger would contain Idea issuing new shares to Vodafone and would end in Vodafone deconsolidating Vodafone India.
Shares in Vodafone had been up 3.5 % in early buying and selling. (Reporting by Kate Holton; enhancing by William Schomberg)