The invention relates to a Rake receiver of a CDMA system using IRC. The Rake receiver comprises at least two antenna branches, at least one Rake finger, and a delay estimator. The delay estimator comprises a despreader and an allocator for selecting at least one delay, and allocating a Rake finger for processing the signal component found by informing the Rake finger of the delay found. The delay estimator further comprises: a channel estimator, an interference estimator for generating an interference signal, a weighting coefficient part for providing each antenna branch with weighting coefficients maximizing the Signal-to-Interference-and-Noise Ratio, a multiplier for multiplying the pilot part by a weighting coefficient, and an antenna branch summer for combining the despread pilot parts, received via the separate antenna branches and multiplied by the weighting coefficient, to one combined pilot signal, on which combined pilot signal the selection is based in the allocator.