“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,” Vodafone said in a statement.
“Any merger would be effected through the issue of new shares in Idea to Vodafone and would result in Vodafone de-consolidating Vodafone India.
“There is no certainty that any transaction will be agreed, nor as to the terms or timing of any transaction,” the statement added.
