Idea eyes $1.2bn deal to sell towers

May 24, 2015

Idea CellularIdea Cellular, part of the Aditya Birla Group, is working on a Rs 7,580-crore ($1.2 billion) deal to sell its independent towers, drawing the interests of Malaysia’s Axiata, Bharti Infratel and American Tower Corporation (ATC), sources directly briefed on the matter said.

India’s third largest mobile service provider owns and operates about 11,000 towers in the country. Debt-laden after the expensive spectrum auctions, top domestic telcos have been seeking fresh capital-raising plans and value-unlocking moves. Source

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