Idea Cellular's PE backer exits before merger

Providence Equity Partners raised $193 million through a block sale of shares in the Indian telecom giant ahead of the company's proposed merger with Vodafone India.

US private equity firm Providence Equity Partners sold its entire 3.3% stake in Idea Cellular for Rs12.9 billion ($193 million) through a block trade on Monday, marking an end to its 11-year shareholding in the Indian telecommunications service provider.

¬ Haymarket Media Limited. All rights reserved.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Share our publication on social media
Share our publication on social media