Birla to buy 15% stake in Idea

MUMBAI: Aditya Birla Nuvo Ltd (ABNL), an A V Birla Group Company, on Monday announced acquisition of 15 per cent stake of Idea Cellular for Rs 1,373 crore.

The company's Board, which met here, authorised ABNL to acquire, either by itself or through its subsidiaries, 338.90 million equity shares of Idea Cellular, the company informed the Bombay Stock Exchange.

With this acquisition ABNL's stake in Idea would go upto 35.74 per cent from the current level of 20.74 per cent.