IDFC in for Idea stake, papers say

3 May 2006

IDFC Private Equity, the private equity arm of Infrastructure Development Finance Corporation (IDFC), is reportedly in talks to buy a stake in Indian mobile operator Idea Cellular from Aditya Birla Group, according to the Economic Times. The Birla Group is currently in the midst of buying its partner the Tata Group out of Idea, and is looking to sell on a 33.3% stake in the cellco.

India, Vi (Vodafone Idea Limited, VIL)