Idea offloads stake
November 15, 2006
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Four private equity players – GLG Partners, ChrysCapital, the UK-based TA Associates and Citigroup - have picked up a combined 18 per cent stake in Idea Cellular. This is in addition to the 15 per cent stake acquired earlier by Providence Equity Partners. Now private equity investment in Idea Cellular is expected to be worth over $763 million. With this move, the Aditya Birla Group's combined holding in the company will decrease to about 65 per cent from 98.3 per cent.
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