Sterling higher ahead of this week’s inflation data and prime minister’s Brexit tour 8.45am GMT VODAFONE HAS AGREED A LONG AWAITED MOVE TO MERGE ITS INDIAN OPERATIONS WITH THOSE OF IDEA CELLULAR. The move will create the country’s biggest telecoms operator, and comes after new entrant Reliance sparked increased competition and a price war. Neil Wilson, senior market analyst at ETX Capital, said: Vodafone’s decision to combine its Indian unit with Idea will create the largest mobile operator in India, with around 400 million customers. That makes it four times the size of Reliance Jio, the challenger operator that has upset rivals by offering free data for the last six months. A sensible move by Vodafone as it just doesn’t have the appetite to fight a long and bitter price war on its own... 8.33am GMT The eurogroup is discussing Greece once more later today but little progress is expected. Analysts at UniCredit said: Finance ministers will discuss the implementation of euro-area member states’ draft budgetary plans for 2017, the budgetary situation in the euro area as a whole and developments regarding the second review of Greece’s macroeconomic adjustment program. Greece and its lenders are heading to the meeting with few expectations of a breakthrough and the best-case scenario for Athens being an agreement for the institutions and their mission chiefs to shortly return to the Greek capital and resume negotiations. Continue reading...
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