As it stated in
NEW DELHI: Idea Cellular, in a clarification to stock exchanges, said that there is no proposal of demerger of tower business portfolio being considered by it board.
CNBC TV-18 reported that American Tower Corporation was close to completing buyout of Idea Cellular’s tower business.
The publication sources said that Idea Cellular will give assurance of tenancy to ATC as part of deal.
As and when such proposals are considered by the Board of Directors of the Company warranting disclosures, the company shall comply with the disclosure obligations under the SEBI regulations, 2015,” the telco said in a statement to stock exchanges.
“As a part of corporate strategy, the company constantly evaluates various opportunities for enhancing the stakeholders’ value.
First Trade : Idea Cellular denies selling its tower business, trades at 113 with 0.25% rise
First Trade : Idea Cellular denies selling its tower business, trades at 113 with 0.25% riseUpdated: March 16, 2017 17:56 pmIdea Cellular denies selling its tower business, currently trades at 113 with 0.25% rise.
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** Telecom services provider Idea Cellular’s shares rise as much as 13 pct to 116.45 rupees** Idea to demerge tower business portfolio and sell majority stake to American Tower Corp, CNBC tweets, citing unidentified sources (bit.ly/2nDbQ3t)** Idea and ATC seek to close deal before a proposed Idea merger with Vodafone India, CNBC tweets** Idea Cellular was not immediately available for comment; email queries to ATC were not answered outside of regular business hours** Idea’s shares have risen about 32 pct since Jan. 27, when both Idea and Vodafone confirmed talks of a merger
collected by :Frank Ithan