Idea Said to Weigh Sale of Stake, Hold Talks With MTN

Idea Cellular Ltd.’s controlling shareholder is weighing a sale of its stake in India’s third-largest mobile-phone company by value and held talks with potential bidders including MTN Group Ltd., said three people with knowledge of the matter.

Discussions between India’s Aditya Birla Group and MTN, based in Johannesburg, are at an early stage and may not result in a transaction, said the people, who declined to be named because the information is private. Birla Group is also talking with telephone companies in the U.S. and Europe about a deal for the stake in Idea, said two of the people.