According to news reports, the Aditya Birla Group has decided not to sell its stake in Idea Cellular. The group clarified its stance in light of reports being circulated that it may be selling its stake in Idea to the Tata Group or to private equity funds. The Tata Group, the other Indian partner in Idea, has also decided to retain its holding in Idea. Earlier, both the Birlas and the Tatas had reportedly planned to sell their stakes to the STT-Telekom Malaysia combine. However, with the valuation of telecom companies shooting up, both groups have decided to hold on to their stakes in Idea.
