Telekom Malaysia eyes Idea Cellular

22 Apr 2004

Telekom Malaysia has responded to a report in the Malay Mail, by confirming that it is interested in buying the 33% stake in Indian operator Idea Cellular currently held by AT&T Wireless. In a statement to the Malaysian Securities Exchange, or Bursa Malaysia, the company said that it is ‘continuously reviewing available investment opportunities overseas in line with its current international strategy and Idea Cellular Ltd is a potential opportunity that it is looking at.’ Telekom’s local rival Maxis is also reportedly interested in the cellco, but has so far refused to comment on the speculation.