Telekom and STT plan bid for Idea Cellular

28 May 2004

Telekom Malaysia and Singapore Technologies Telemedia (STT), have revealed plans to enter a bid for a 49% stake in Indian cellco Idea Cellular. The two operators made the decision to enter a joint offer after STT’s parent Temasek Holdings purchased a 5% stake in Telekom Malaysia in March. Idea Cellular is India’s fifth-largest mobile operator, with around four million subscribers at the end of March 2004.