StockMarketWire.com - Telecom group Vodafone said it had agreed to complete a merger with Bharti Airtel of their telecom tower assets in India.

Vodafone said it would end up with 28.2% of the combined company, in exchange for its 42% shareholding in Indus Towers.

The stake would have a value of about INR 151bn (€1.7bn), based on the current Bharti Infratel market valuation.

Bharti Airtel and Vodafone would jointly control the combined company.

Vodafone Idea would receive about INR 40 billion (€464m) in cash upon completion.


At 8:55am: [LON:VOD] Vodafone Group PLC share price was -1.62p at 109.82p



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