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India: Vodafone Idea Explores m-Pesa Merger
Vodafone Idea revealed in its fiscal Q4 results that it is considering merging its m-Pesa payments platform in India with an associate or a third party.
The company is exploring a possible merger due to rules set by the Reserve Bank of India (RBI), which prevent a single company from owning a payments banking business and a prepaid payment instrument business. Vodafone Idea, following its merger, holds 100 percent of Vodafone m-Pesa which it uses for payments in the county, and a 49 per cent stake in Aditya Birla Payments Bank.
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