I would rather see VOD cut dividend & pay debt of $57B
That would be silly. Interest rates are at all time lows. They should refinance and sell debt at these rates. If the deal happens they should take the money and see if there are cheap assets that they can put money into somewhere in the world. Or failing that buy back stock and shrink the number of shares. And finally increase the dividend. Of course, they could have enough money to do all three.
have you done any work on the company? why would they cut the dividend? look at the financials. they are not running short of cash. they generated 2.2 billion pounds of free cash flow. that means the company has an extra 2.2 billion pounds after it pays the current dividend.