Photo: Priyanka Parashar/MintMumbai: Vodafone Group Plc is nearing an initial agreement to merge its Indian operations with Idea Cellular Ltd, in a deal that would create the largest telecom company in one of the world’s most competitive markets, people with knowledge of the matter said. 2 provider, Vodafone India, and its third largest, Idea, controlled by Aditya Birla Group. The Telegraph reported earlier this month that Vodafone and Idea were nearing a deal, citing unidentified people. Aditya Birla and Vodafone would have equal rights in the new company, Idea said in a January exchange filing. Vodafone and Idea are weighing options on excess airwaves—including selling or sharing them, people with knowledge of the matter said last month.

Source: Mint March 16, 2017 19:30 UTC