Idea Cellular offloads stake
November 15, 2006
Four private equity players, GLG Partners, ChrysCapital, UK-based TA Associates and Citigroup, now have a combined 18 per cent stake in Idea Cellular. This is in addition to Providence Equity Partners' 15 per cent stake in the same. With these additions, the total investment by private equity investment companies in Idea is expected to be worth over $763 million. The move will decrease the Aditya Birla Group's combined holding in the company to around 65 per cent from 98.3 per cent.
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