Aditya Birla Telecom, a wholly owned subsidiary of Idea Cellular, has scaled down its $640 million deal with US-based private equity major Providence Equity Partners.
February 15, 2009
Aditya Birla Telecom, a wholly owned subsidiary of Idea Cellular, has scaled down its $640 million deal with US-based private equity major Providence Equity Partners. Idea Cellular has offloaded only 16.14 per cent stake (as against the earlier agreed 20 per cent) for around $428 million as the Foreign Investment Promotion Board (FIPB) gave only a partial approval. Idea Cellular had earlier stated that the funds would be used for network rollout and ongoing operations of Aditya Birla Telecom.
- Most Viewed
- Most Rated
- Most Shared
- Related Articles
- Tata Teleservices (Maharashtra) Limited ...
- Tata Teleservices (Maharashtra) Limited ...
- Tata Teleservices Maharashtra Limited pl...
- Hutchison Essar has announced the entry ...
- Usage and performance are the two top pr...
- tele.net announces the winners of the Te...
- Global Wi-Max Forum cautions that India ...
- Telecom Operator Awards 2011 acknowledge...
- GSMA releases the “Licensing to Suppor...
- Huawei, Alcatel-Lucent and Ericsson in r...
- DoT turns down Vodafone India’s reques...
- FICCI and AT KEARNEY release a report ti...
- DoT may allow spectrum sharing among 3G ...
- TTSL has launched services in Bhopal, In...
- Bharti has become the first GSM mobile o...
- DoT issues guidelines for ISPs proposing...
- tele.net to host a conference on "Energy...
- tele.net hosts a conference on “Teleco...
- Government amends the licence conditions...
- GSMA releases the “Licensing to Suppor...