Telecom tower (Photo by W Rorrkychand Sing/Tonseblog.com)

Providence To Offload Stake In Idea, Mulls 5% Indirect Holding Sale In Indus Towers

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US private equity firm Providence is looking to sell its 5 per cent indirect holding in Indus Towers by offloading its stake in Idea Cellular unit Aditya Birla Telecom and has asked bankers to informally value the company, people familiar with the matter said.

However, buyers are difficult to come by because investments in Indus, India’s largest telecom tower company, can also be made through publicly traded Bharti Infratel, they said. A banker added that investing through unlisted Aditya Birla Telecom is complicated, difficult to exit and cannot be easily traded.

Providence owns over 16 per cent in Aditya Birla Telecom, which, in turn, owns 16 per cent in Indus. It also owns a stake in Idea Cellular. Original post at ET Telecom

Wahengbam Rorrkychand

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