Vodafone Group Plc (“Vodafone”) notes the recent media speculation regarding a potential combination of Vodafone India and Idea Cellular (“Idea”).
Vodafone confirms that it is in discussions with the Aditya Birla Group about an all share merger of Vodafone India (excluding Vodafone's 42% stake in Indus Towers) and Idea. Any merger would be effected through the issue of new shares in Idea to Vodafone and would result in Vodafone deconsolidating Vodafone India.
There is no certainty that any transaction will be agreed, nor as to the terms or timing of any transaction.
This announcement contains inside information.
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The person responsible for arranging for the release of this announcement on behalf of Vodafone is Rosemary Martin, Vodafone Group General Counsel and Company Secretary.