M&A, IP, Patents Vodafone Spain’s €5 billion acquisition of Zegona has been approved by the Spanish government and will be completed by the end of May. Vodafone will pay with €4.1 billion in cash from the deal and €900 million in stock. Infrastructure investor Actis is launching a new unit called Connectis Tower using the portfolio of towers the firm bought from Telekom Srbija in January. The 1,800 macro towers are in Serbia, Bosnia & Herzegovina, and Montenegro. Indonesian operators XL Axiata and Smartfren are in early talks to merge and create a new entity which both parties have equal parts in. A merged entity would be in strong competition with other operators Telkomsel and Indosat Ooredoo Hutchison. Financials Bharti…