
Vodafone India and Idea have agreed to merge to create the largest telecoms operator in India. The transaction is to be implemented as a merger of equals that will result in joint control of the combined company between Vodafone and the Aditya Birla Group.
Under the terms of the agreement, Vodafone will combine its subsidiary Vodafone India (excluding its 42% stake in Indus Towers) with Idea, an Indian stock exchange-listed company. Vodafone stated...