Indian telco Idea to sell stake in Indus Towers

www.WirelessFederation.com/news: 16% stake in Indus Towers valued at USD 600-800 million might be partially or wholly sold off by Indian telco Idea Cellular.

The stock of the company reached an all day high of Rs 58 and an all day low of Rs 56.60. In late 2007, Bharti Airtel, Vodafone Essar and Idea Cellular pooled in their resources into an independent firm, Indus Towers which became the world’s largest tower company with 1,25,00 towers.

Before this joint venture, 42% stake was held by Vodafone and Bharti and 16% held by Idea.