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Kumar Mangalam Birla may head Vodafone-Idea merged entity: report

Vodafone and Idea Cellular recently confirmed that they were in initial talks to consider a merger.

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Aditya Birla Group chairman Kumar Mangalam Birla
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Aditya Birla Group chairman Kumar Mangalam Birla may emerge as the unanimous pick to head the Vodafone - Idea Cellular merged entity, a report by LiveMint said. 

UK-based Vodafone Group recently confirmed that it was in talks with Idea Cellular to merge their operations, however, they were still in the preliminary stage and neither entities put a timeline on the conclusion of the deal. 

According to the Mint report, Birla may be picked to head the merged entity, it said quoting unnamed sources. 

It also said that the merged entity could have 12 directors on its board - three from each side - and six independent directors. 

All the parties involved refused to comment on the speculation, Mint said. 

The report also said that Vodafone's holding in the company could be less than 51% but more than the Aditya Birla Group's. The report also speculated that the merged entity could use the Vodafone brand under licence from the Vodafone Group.

A merged entity of Vodafone India and Idea Cellular would create a telecom behemoth with nearly 50% market share, easily bypassing Bharti Airtel - the current market leader in terms of subscribers - and be a formidable player in the domestic market where the entry of Reliance Jio has shaken up things. 

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