New York and London – October 27, 2006 – LAWFUEL – Law News Network – Debevoise & Plimpton LLP is advising Providence Equity Partners in its acquisition of an approximately 15% equity stake in Idea Cellular Limited. Terms of the transaction were not disclosed.
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 5 cellular service providers in India by revenue, and among the top 3 within its current markets, providing service to 58% of India’s total telephony market. In addition to its cellular services, Idea provides several innovative value added services.
Providence Equity Partners is a global private investment firm specializing in equity investments in media and entertainment, communications and information companies around the world. The principals of Providence Equity manage funds with over $9 billion in equity commitments and have invested in more than 80 companies operating in over 20 countries since the firm’s inception in 1990. Debevoise & Plimpton LLP is a leading international law firm with offices in New York, London, Paris, Frankfurt, Washington, Moscow, Hong Kong and Shanghai.
The Debevoise team is led out of London by partner Geoffrey P. Burgess and includes partner Peter F.G. Schuur, associates Hugo Canwell, Mai Nguyen and Christina Perry, and trainee solicitor Kristina Barker.