Vodafone dials Idea for merger

If it happens, merged entity will become India's number one player with 43% market share

UK-based telecom giant Vodafone said on Monday it was in talks for an all-stock merger of its unlisted Indian subsidiary with rival Idea Cellular. 

This would make the merged entity India’s largest telecom company in terms of revenue, at 43 per cent. It will also become a leading global telecom firm in terms of number of subscribers, at 387 million.

“Any merger would be effected through the issue of new shares in Idea to Vodafone and result in Vodafone deconsolidating Vodafone India,” the British company stated. 

The talks between Vodafone and Aditya Birla (AB) Group-owned Idea Cellular were triggered mainly