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While it was a good idea on part of Birlas to buy out Tatas’ stake in Idea (as discussed earlier), Tata’s exit wasn’t bad either. It was now that they could focus entirely on their solo telecom venture, Tata Teleservices. In fact, Tatas gained a cool return of Rs.29.85 billion out of an investment of Rs.14.21 billion over a 12-year period in Idea. Moreover, Tatas were able to pocket a whopping Rs.44.06 billion (Rs.40.51 per share) by offloading the stake, which could now be infused in to Tata Teleservices. But that was not the only reason avers Harit Shah, Telecom Analyst, Angel Broking, “Tata’s decision to opt out of Idea Cellular was also prompted by their love for CDMA technology.” In fact, today the company offers CDMA services in all the circles of India. What’s more Tata Teleservices now plans to be a dual technology company offering both GSM and CDMA services in all the 23 circles by the end of this year. Wasn’t that a good idea for Tata, Sir ji!
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