Telekom Malaysia denies making solo bid for Idea stake

16 Jun 2005

Telekom Malaysia has denied recent stories which claimed it made a solo bid for a 47.7% stake in India’s fourth largest cellco Idea Cellular. Telekom had lodged a USD390 million joint bid with Singapore Technologies Telemedia for the stake, but failed to obtain approval from the Indian regulator within the required six-month period. The company now says it is reviewing its options, and is still interested in investing in India and neighbouring countries.

India, Malaysia, Telekom Malaysia, Vodafone Idea (previously Idea Cellular)