India : Vodafone India, Idea Cellular in exploratory merger talks
Tue Aug 23 2016
Ramesh Sridharan (202 articles)
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India : Vodafone India, Idea Cellular in exploratory merger talks

MUMBAI : Vodafone Group Plc’s (VOD.L) Indian arm is in exploratory talks around a possible merger with its smaller domestic rival Idea Cellular (IDEA.NS), according to a CNBC TV18 report on Tuesday, citing unnamed sources.

A spokesman for Vodafone India, India’s No. 2 mobile carrier by market share, declined to comment on the report. A spokeswoman for Idea also declined to comment on the matter.

Shares in Idea, the country’s No. 3 operator, rose 5.7 percent in afternoon trading following the news.


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Ramesh Sridharan

Ramesh Sridharan

Ramesh Sridharan is our Stock Market Correspondent covering events and daily movements of stock markets in Asia. He is based in Mumbai