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BUZZ-India's Idea gains; to seal merger with Vodafone's India unit this month - report
February 20, 2017 / 4:40 AM / in 8 months

BUZZ-India's Idea gains; to seal merger with Vodafone's India unit this month - report

** Idea Cellular’s shares gain as much as 5.5 pct to 111.75 rupees, posting their biggest intraday pct gain in over two weeks

** Vodafone Group, Idea likely to seal merger pact within a month, according to a report by the PTI carried in the Economic Times (bit.ly/2lZcw6c)

** Vodafone confirmed on Jan. 30 it was in talks to merge its Indian unit with local rival Idea in a deal that would create a new market leader better able to contest a brutal new price war

** Idea shares have risen about 35 pct since Jan. 27, when the companies confirmed talks of a merger

** Idea and Vodafone India did not immediately respond to email queries from Reuters

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