March 15, 2017 / 6:25 AM / 4 months ago

BUZZ-India's Idea Cellular gains on report of tower business sale

1 Min Read

** Telecom services provider Idea Cellular's shares rise as much as 13 pct to 116.45 rupees

** Idea to demerge tower business portfolio and sell majority stake to American Tower Corp, CNBC tweets, citing unidentified sources (bit.ly/2nDbQ3t)

** Idea and ATC seek to close deal before a proposed Idea merger with Vodafone India, CNBC tweets

** Idea Cellular was not immediately available for comment; email queries to ATC were not answered outside of regular business hours

** Idea's shares have risen about 32 pct since Jan. 27, when both Idea and Vodafone confirmed talks of a merger

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