AV Birla group company, Idea Cellular shot up by as much as 5.45 per cent in intraday trades before closing at Rs 107.5 a share, up by 0.14 per cent after the company announced that private equity firm, Providence Equity Partners would buy 20 per cent in its unit Aditya Birla Telecom for $640 million (Rs 2,560 crore).

<tr><td><p class='TableClas'></p><P class='TableClas'><DIV CLASS=rightDiv><script language="JavaScript">
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		<script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
		</script> </DIV><p class='TableClas'>A total of 92.15 lakh shares changed hands at the Bombay Stock Exchange. Providence bought compulsorily convertible preference shares, which will represent 20 per cent of Aditya Birla Telecom (ABTL) upon conversion. </P></p><p class='TableClas'></p></table>


Idea Cellular strengthens on private equity deal

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