Wednesday, August 17, 2011

Axiata hikes stake in Idea Cellular to 5.91%

Private telecom service provider Idea Cellular informed exchanges that Axiata Investments 2 (India) Ltd has hiked its stake in the company to 5.91% by acquiring additional shares worth Rs 306.69 crore through open market transactions. 

Axiata Investments 2 (India) Ltd has acquired 2,97,76,341 shares, or 0.9%, of Idea Cellular at Rs 103 apiece, aggregating to Rs 306.69 crore, the private telecom operator informed the Bombay Stock Exchange.
Axiata Investments 2 (India) Ltd now holds a 5.91% stake in Idea Cellular. Prior to this, it held a 5.01% in the company.

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