Vodafone confirms talks of possible merger with Idea

Vodafone India has confirmed that it is in talks with Idea Cellular for a possible merger. As per the company, any merger will be effected through the issue of new shares of Idea to Vodafone and will result in Vodafone deconsolidating Vodafone India. If completed, the deal will be the biggest merger in the Indian telecom sector. However, there is no certainty that any transaction will be agreed upon, or what the terms and timing of the transaction will be.