Kumar Mangalam Birla named chairman of Idea cellular
After completing the acquisition of entire Tata group stake in Idea Cellular on Tuesday, Aditya Birla group on Wednesday reconstituted the Board of Directors with Kumar Mangalam Birla as the Chairman of the country's fifth largest cellular operato...
By PTI |
MUMBAI: After completing the acquisition of entire Tata group stake in Idea Cellular on Tuesday, Aditya Birla group on Wednesday reconstituted the Board of Directors with Kumar Mangalam Birla as the Chairman of the country's fifth largest cellular operator.
The other directors include Rajashree Birla, Sanjeev Aga, Managing Director of Aditya Birla Nuvo, Debu Bhattacharya, Hindalco Managing Director, Sourabh Misra, Ultra Tech CEO and M R Prasanna, Group Executive president (Legal) Aditya Birla Group, a company release said here.
On Tuesday, Aditya Birla group concluded the acquisition of Tata group's 48.14 per cent stake in Idea for a total consideration of Rs 4,406 crore.
With this, the combined holding of Aditya Birla Group companies in Idea stands at 98.3 per cent, which include Aditya Birla Nuvo Ltd with 35.7 per cent, Birla TMT Holdings 44.9 per cent, Grasim Industries Ltd 7.6 per cent and Hindalco Industries Ltd 10.1 per cent.
Idea is the fifth largest cellular operator in the country with operations Kerala, Andhra Pradesh, Maharashtra, Gujarat, Madhya Pradesh, Uttar Pradesh, Rajasthan, Himachal Pradesh, Delhi and Haryana with over eight million subscribers.
The other directors include Rajashree Birla, Sanjeev Aga, Managing Director of Aditya Birla Nuvo, Debu Bhattacharya, Hindalco Managing Director, Sourabh Misra, Ultra Tech CEO and M R Prasanna, Group Executive president (Legal) Aditya Birla Group, a company release said here.
On Tuesday, Aditya Birla group concluded the acquisition of Tata group's 48.14 per cent stake in Idea for a total consideration of Rs 4,406 crore.
With this, the combined holding of Aditya Birla Group companies in Idea stands at 98.3 per cent, which include Aditya Birla Nuvo Ltd with 35.7 per cent, Birla TMT Holdings 44.9 per cent, Grasim Industries Ltd 7.6 per cent and Hindalco Industries Ltd 10.1 per cent.
Idea is the fifth largest cellular operator in the country with operations Kerala, Andhra Pradesh, Maharashtra, Gujarat, Madhya Pradesh, Uttar Pradesh, Rajasthan, Himachal Pradesh, Delhi and Haryana with over eight million subscribers.
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