Vodafone Confirms Merger Talks With Idea Cellular

"Vodafone confirms that it is in discussions with the Aditya Birla Group about an all share merger of Vodafone India 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," Vodafone said in a statement.
The combined entity would have 43 percent revenue market share and have a 40 percent active subscriber market share, according to brokerage firm CLSA. 

The merged entity would account for over 25% of allocated spectrum and will have to sell about 1 percent to comply with spectrum cap norms, CLSA said.

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