January 4, 2018 / 9:02 AM / 9 months ago

BRIEF-Vodafone Group Says Stake In Combined Entity After Vodafone India- Idea Merger To Be 47.5 PCT

Jan 4 (Reuters) - Vodafone Group Plc

* IDEA CELLULAR LIMITED ANNOUNCED TODAY THE INTENTION TO RAISE UP TO INR67.5 BILLION (€882 MILLION) OF EQUITY

* EQUITY RAISE WILL BE ACHIEVED THROUGH A INR32.5 BILLION (€425 MILLION) PREFERENTIAL ALLOTMENT TO THE ADITYA BIRLA GROUP ENTITIES (“ABG”)

* VODAFONE GROUP PLC - ABG AND VODAFONE HAVE AGREED THAT ABG WILL BUY A MINIMUM OF 2.5% OF MERGED ENTITY FROM VODAFONE

* VODAFONE GROUP PLC - VODAFONE WILL RECEIVE MINIMUM PROCEEDS OF INR19.6 BILLION (EUR 256 MILLION) FROM SUCH SALE

* VODAFONE GROUP PLC - VODAFONE’S OWNERSHIP IN COMBINED ENTITY IS EXPECTED TO BE APPROXIMATELY 47.5% AT COMPLETION Source text for Eikon: Further company coverage:

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