CNBC-TV18 learns that Idea Cellular, which holds 16% stake valued at USD 600-800 million in Indus Towers, is in preliminary talks to sell part or whole of its stake in the company
India's top mobile operator Bharti Airtel, Vodafone Essar and Idea Cellular in late 2007 had decided to pool their resources and hived off their towers into an independent firm, Indus Towers—the world’s largest tower company with over one lakh towers.
Post the joint venture Vodafone and Bharti held 42% stake each while Idea held 16%.
However, Idea has denied any plans to sell Indus Towers stake.
Source: Money Control