India: Aditya Birla Group in talks with PE firms to raise $1b for Idea Cellular

The Aditya Birla Group is in talks with buyout firms to sell stakes in promoter entities that control Idea Cellular Ltd to raise more than $1 billion, part of which will be used to pay down regulatory dues of the telecom operator ahead of a merger with Vodafone India Ltd, two people directly aware of the development said.