Vodafone and Idea cling to each other amid growing Indian market hostility

Vodafone India has confirmed it is in talks to merge with Idea Celluar, which would create the largest Indian mobile operator by number of subscriptions.
In a short announcement issued in response to media speculation on the matter Vodafone said: “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 I