Mumbai, Maharashtra, India
The Aditya Birla Group and the Tata Group have concluded their earlier announced transaction, with the Aditya Birla Group acquiring the entire 48.14% holding of the Tata Group in Idea Cellular Ltd., for a total consideration of Rs.4406 crores. The transaction was completed earlier today.
The combined holding of the Aditya Birla Group companies in Idea now stands at 98.3% constituted between Aditya Birla Nuvo Ltd. 35.7%, Birla TMT Holdings Ltd. 44.9%, Grasim Industries Ltd. 7.6%, and Hindalco Industries Ltd. 10.1%.
Said Aditya Birla Group Chairman, Mr. Kumar Mangalam Birla, "the IDEA name has come to stand for value and innovation in the eyes of its millions of subscribers. We shall raise the bar and aim that Idea represents the very best across all product and service categories."
Dr Pragnya Ram, Aditya Birla Group, +91 (022) 5652 5000 pragnyaram@adityabirla.com
Source: Aditya Birla Group (Business Wire India)
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