VODAFONE TO MERGE WITH IDEA CELLULAR- TO FACE CHALLENGE OF RELIANCE JIO.

In preliminary merger talks with Vodafone India: Idea Cellular to stock exchanges

The Aditya Birla Group company added, “it is important to mention that the fundamental premise of preliminary discussion is based on equal rights between Aditya Birla Group and Vodafone in the combined entity.”Danish Khan  |  ETTelecom  |  Updated: January 30, 2017, 15:37 IST

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In preliminary merger talks with Vodafone India: Idea Cellular to stock exchangesIn preliminary merger talks with Vodafone India: Idea Cellular to stock exchanges - > Idea-to-Idea unlimited local and STD calls + 300MB 4G data. > On Rs 348 recharge: Idea users will get 1GB free data+ unlimited calls(STD+Local) > New 4G handset will get an additional 3GB data with unlimited calls(STD+Local) All this will fetch you free data worth Rs 9,000 for a year on a new 4G handset.
> Idea-to-Idea unlimited local and STD calls + 300MB 4G data. > On Rs 348 recharge: Idea users will get 1GB free data+ unlimited calls(STD+Local) > New 4G handset will get an additional 3GB data with unlimited calls(STD+Local) All this will fetch you free data worth Rs 9,000 for a year on a new 4G handset.

NEW DELHI: Idea Cellular, the country’s third largest telecom operator by users, said that it has been in preliminary discussions with Vodafone Group for a potential merger, replying to a clarification sought by the stock exchanges on ET story “Merger May be the Best Idea for Vodafone, Sirji” published on Monday.

“The company constantly evaluates various opportunities for enhancing the stakeholders’ value. As a part of the exercise, the company has been in preliminary discussions with Vodafone, In view of the fact that the discussion is at the preliminary stage, the Company is not in a position to share any further details,” the company said in a filing.

READ MORE: Vodafone confirms talks with Idea Cellular for all-share merger

The Aditya Birla Group company added, “it is important to mention that the fundamental premise of preliminary discussion is based on equal rights between Aditya Birla Group and Vodafone in the combined entity.”

It also cautioned that there is no certainty that the discussion with them will result in any agreement.

“The company will inform the stock exchanges as an when the Board takes any decision in this regard,” it added.

Earlier today, Vodafone Group also confirmed its discussions with the Aditya Birla Group about an all share merger of Vodafone India and Idea Cellular. It said that the discussions exclude Vodafone’s 42% stake in Indus Towers.
 

(SOURCE: ECONOMIC TIMES)