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Idea Cellular gets shareholders' nod for demerger

Agencies
Posted: Thursday, Jul 09, 2009 at 1533 hrs IST
Updated: Thursday, Jul 09, 2009 at 1533 hrs IST

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Mumbai: Telecom operator Idea Cellular said shareholders and creditors have approved the proposal to demerge the company's passive infrastructure -- towers and base stations -- to its subsidiary Idea Cellular Towers Infrastructure.

Shareholders have approved the scheme of arrangement on demerger of passive infrastructure of the company to its wholly-owned subsidiary Idea Cellular Towers Infrastructure Ltd, with requisite majority, Idea Cellular said in a filing to the Bombay Stock Exchange.

Shares of Idea Cellular were trading at Rs 70.10 on the BSE, up 1.30 per cent from previous close.

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