Companies / India
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New Investor In Indian Mobile Operator
May 2008 | FDI AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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US private equity group Providence Equity Partners has taken a 20% stake in Aditya Birla Telecoms (ABTL) for US$640mn. The operator, a subsidiary of sixth-ranked Indian mobile operator Idea Cellular, holds an operating licence for the Bihar service area, the second largest in terms of population in India but with the lowest mobile penetration. Services are expected to be rolled out using the Idea brand before the end of 2008. The investment from a US company shows how attractive the Indian mobile market is for investors, given the low penetration rate and high growth rate experienced by operators, which make it a market with considerable potential.