Providence sells Idea shares for USD235m

8 Sep 2014

Providence Equity Partners has sold a 2.4% stake in Idea Cellular for approximately INR14.14 billion (USD234.7 million), the Economic Times reports. The private equity firm offloaded 85 million shares in the cellco via its P5 Asia Investment (Mauritius) unit, at an average price of INR166.35 per share.

India, Vodafone Idea (previously Idea Cellular)