Merger with Idea signals Vodafone’s shrinking interest in India

Although Vodafone appears to have chosen the middle path, investors in the merged company might well view this shrinking interest as a sign of lesser interest in the Indian market’s prospects. Photo: Hemant Mishra/Mint

The Aditya Birla group has managed to eke out equal management rights in the merger between Idea Cellular Ltd and Vodafone India Ltd, despite having a much lower shareholding. The fallout: Vodafone Group Plc will gradually bring down its stake in the merged entity from 50% to start with to possibly as low as 26%.

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