Vodafone India has agreed to sell an additional 9.5 per cent stake to the Aditya Birla Group after the two companies merge their telecom operations. The additional stake will be sold for Rs 130 per share. The merged entity will be under the joint control of the two firms and will be governed by the shareholders’ agreement. Further, Vodafone will hold a 50 per cent stake in the merged entity, while the Aditya Birla Group will hold a 21 per cent stake. On completion of the merger, Vodafone will transfer 4.9 per cent shares in the merged entity to the Aditya Birla Group for Rs 38.74 billion. Post the transfer, the shareholding of the Aditya Birla Group in the merged entity will increase to 26 per cent while the shareholding of Vodafone India will reduce to 45.1 per cent. The remaining 28.9 per cent stake in the merged entity will be held by other shareholders.