Idea’s grand designs

28 Jan 2004

Idea Cellular, the Indian wireless operator owned by the Birla Group, the Tata Group and AT&T Wireless, has confirmed that it will purchase local rivals Escotel Mobile (EMCL) and Escorts Telecommunications (ETL) in an all cash transaction. Under the terms of the deal Idea will receive six telecoms licences and 825,000 customers, taking its total base to over three million. With the acquisition Idea will have coverage of 60% of India’s population.