TA Gets IDEA Stake
Idea is a leading wireless operator in India with over 10 million subscribers and operations in eleven of the country’s major markets. The Company is among the top five cellular service providers in India by revenue, and among the top three within its current markets, providing service to 58 percent of India's total telephony market. In addition to its cellular services, Idea provides several innovative value added services.
“We are excited at the opportunity to invest in Idea Cellular. Given the low level of wireline penetration, wireless operators are fulfilling a basic communications need in India and will continually address larger proportions of the population,” said Ajit Nedungadi, Director of TA Associates Ltd., who led the transaction from TA’s London office. “Led by a strong management team, Idea Cellular is investing aggressively to take advantage of this market opportunity. We look forward to supporting the Company’s growth.”