HALISTER: Vodafone Confirms Talks on Vodafone India-Idea All Share Merger

Vodafone Confirms Talks on Vodafone India-Idea All Share Merger

(Bloomberg) -- Vodafone confirms is in discussions with 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
  • There is no certainty that any transaction will be agreed, nor as to the terms or timing of any transaction
  • Statement
  • Idea Leads Gains in Indian Telecoms Amid Possible Consolidation
To contact the reporter on this story: William Canny in London at wcanny3@bloomberg.net
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
IDEA IN (Idea Cellular Ltd)
VOD LN (Vodafone Group PLC)
214046Z IN (Aditya Birla Group)

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