News From Telecom World

Idea unit stake sale gets government’s green signal (India)

Posted on: October 18, 2008

Indian cabinet approves the sale of 20% stake in Aditya Birla Telecom Ltd (ABTL), a unit of Idea Cellular, to a private equity firm Providence Equity Partners, a deal worth $640 million.
THe cabinet further approves the Idea’s plan to transfer its 16% to ABTL in tower company Indus Towers, a joint venture with top telecom operator Bharti Airtel and third-ranked Vodafone Essar.

Source: Wireless Federation


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