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Vodafone nearing agreement to merge Indian unit with Idea

Vodafone nearing agreement to merge Indian unit with Idea

Thursday, March 16, 2017, 7:31 AM

Vodafone Group Plc is nearing an initial agreement to merge its Indian operations with Idea Cellular in a deal that would create the largest telecom company in one of the world’s most competitive markets. Carriers in India are seeking to consolidate after Reliance Jio Infocomm Ltd, backed by billionaire Mukesh Ambani, introduced free services in September, undermining industry revenue.
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