AV Birla group acquires Tata stake in Idea

AV Birla group acquires Tata stake in Idea

Aditya Birla group has said in a statement that they have now acquired Tata group’s 49% stake in Idea Cellular.

This transaction was worth around Rs 4,406 crore and this would end the high-profile corporate battle between India’s top two business houses.

Idea is the fifth largest mobile service provider in the country and with this new development, AV Birla group companies own 98.3% in the company.

Kumar Mangalam Birla, chairman of AV Birla group spoke about their plans for Idea: “The Idea name has come to stand for value and innovation in the eyes of its millions of subscribers. We shall raise the bar and aim that Idea represents the very best across all product and service categories.”

Hopefully, this would mean better and more efficient services for the customers of Idea mobile services.