Idea Cellular merger signals Vodafone’s shrinking interest in India
Monday, March 20, 2017, 6:40 PM
Aditya Birla group has managed to eke out equal management rights in merger between Idea and Vodafone, despite having much lower shareholding. The fallout: Vodafone Group will gradually bring down its stake in merged entity from 50% to start with to possibly as low as 26%. Vodafone Group now looks far less ambitious with its India telecom plans after its merger with Idea Cellular.