" class="no-js "lang="en-US"> “Prospect of Indian Merger Sends Vodafone Shares Ringing” - Fintech Finance
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January 31 2017

“Prospect of Indian Merger Sends Vodafone Shares Ringing”

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Jordan Hiscott, Chief Trader at ayondo markets:

“Yesterday Vodafone moved from its one-year low of 189p to trade as high as 201p after the company confirmed talks with Indian rival, Idea Cellular, to merge its Indian telecoms arm Vodafone India. The two companies have been fighting it out for contracts and the prospect of a price war has clearly opened the board to the idea of a merger, which would combine almost 400 million customers from India’s second and third largest mobile networks.

“Yesterday’s price move offers some much-needed relief for Vodafone shareholders, who have seen the stock remain at largely the same price for the last year, while the FTSE100 is up more than 17%. Depending on how the merger talks go, should we break below 190p, I think a move to 160p should become apparent by end of Q2.”

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