Vodafone India confirms merger talks with Idea Cellular

(Telecompaper) Vodafone has confirmed that it is in discussions with the Aditya Birla Group about an all share merger of Vodafone India and Idea Cellular. The potential deal would exclude Vodafone's 42 percent stake in Indus Towers, Vodafone also said. The company also added that any merger would be effected through the issue of new shares in Idea to Vodafone and would result in Vodafone deconsolidating Vodafone India.