Birla to buy entire Tata stake in Idea

The Aditya Birla group has accepted the offer made by Tata and will acquire its entire holding of 48.14 per cent in Idea Cellular for a total consideration of Rs 4,406 crore, the group said in Mumbai.

While 15 per cent of the 48.14 per cent would be acquired by the Aditya Birla group and its subsidiaries, the balance stake would be acquired by Birla TMT Holdings Pvt Ltd, subject to necessary approvals, it said.

Birla TMT Holdings, however, intends to place on the same terms, the equity acquired by it, to financial investors, thereby bringing the combined holdings of the Aditya Birla Group companies to over 65 per cent, it added.