Idea Cellular has received shareholders’ approval for hiving off its towers into a subsidiary, Idea Cellular Towers Infrastructure.

Idea Cellular has received shareholders’ approval for hiving off its towers into a subsidiary, Idea Cellular Towers Infrastructure. The subsidiary will have nearly 11,000 towers in nine circles. Idea’s 16 per cent stake in Indus Towers, the three-way joint venture between Bharti Airtel, Vodafone Essar and Idea, will now be held through the new subsidiary.