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CORRECTED - Idea Cellular posts smaller-than-expected second-quarter loss


(Corrects headline to say "smaller-than-expected", not "bigger")By Arnab PaulREUTERS - Idea Cellular reported a fourth straight quarterly loss on Monday as intense competition in the telecom sector continued to hurt, and said it would sell its tower business to reduce debt.The tower business will be sold at an enterprise value of 40 billion rupees ($613 million) to ATC Telecom Infrastructure Pvt Ltd, a unit of American Tower Corp, Idea Cellular said in a statement. ("In the long term, we have a positive view on Idea and the deal could be viewed as a positive move with ...

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First Published: Mon, November 13 2017. 11:14 IST