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Idea Cellular Ltd Plans To Sell Tower Business-Business Standard

Tuesday, 4 Jun 2013 04:40am EDT 

Business Standard reported that Idea Cellular Ltd is in talks with Axiata of Malaysia to sell off its tower business. Idea plans to divest its 9,400 towers to raise funds for capital expenditure, licence renewals, as well as purchase of spectrum, Economic Times reported citing two persons familiar with the deal. A team from Axiata is scheduled to arrive in India in the next few weeks to take the negotiations further, the report said.