 "The immediate priority of the merged entity will be to consolidate its position across the range of service offerings")
Vodafone Idea Ltd. plans to raise as much as 25,000-crore rupees ($3.5 billion) via a rights offering to help India’s largest mobile-phone carrier fend off Asia’s richest man, who continues to roil the industry by providing 4G Internet at prices that would drive most carriers bankrupt in other countries.
Vodafone Group Plc will contribute as much as 11,000 crore rupees, while India’s Aditya Birla Group will pump in as much as 7250 crore rupees, according to a statement on Wednesday.
The plan underscores how Indian carriers have yet to figure out how to compete against billionaire Mukesh Ambani’s Reliance Jio
