Idea Cellular is in discussion with Axiata of Malaysia in order to sell its tower business to the Malaysian company. It is planning to raise funds for capital expenditure, license renewals, as well as purchase of spectrum from divestment of its 9,400 towers. For the present fiscal, Idea Cellular’s capital expenditure is Rs 3,500 crore.
Idea Cellular, an AV Birla group company, provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level; it is present in all 22 telecom circles.
