Date:21/06/2006 URL: http://www.thehindu.com/2006/06/21/stories/2006062109011800.htm

Business

Aditya Birla group raises stake in Idea

Staff Correspondent

MUMBAI: The Aditya Birla Group and the Tata Group have concluded their earlier announced transaction for stake in Idea Cellular with the former acquiring the entire 48.14 per cent holding of the Tata group in the cellular company for a total consideration of Rs. 4,406 crore. The transaction was completed earlier on Tuesday.

The combined holding of the Aditya Birla group companies in Idea now stands at 98.3 per cent constituted between Aditya Birla Nuvo Ltd. having 35.7 per cent, Birla TMT Holdings 44.9 per cent, Grasim Industries 7.6 per cent and Hindalco Industries 10.1 per cent.