Idea Cellular's PE backer exits before merger

Providence Equity Partners raised $193 million through a block sale of shares in the Indian telecom giant ahead of the company's proposed merger with Vodafone India.

Danny Leung

February 28, 2017

US private equity firm Providence Equity Partners sold its entire 3.3% stake in Idea Cellular for Rs12.9 billion ($193 million) through a block trade on Monday, marking an end to its 11-year shareholding in the Indian telecommunications service provider.

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