India Idea says always evaluates stake sale plans
Emirates Telecommunication Corp is considering different options in the Indian market.
September 20, 2010 12:51 by Reuters
Idea Cellular , India’s sixth-biggest mobile phone operator, said on Monday it continuously evaluates stake-sale proposals from time to time.
“As and when a definitive proposal is considered and approved by the company’s board, we shall forthwith comply with our disclosure obligations under the listing agreement,” the company said in a notice to the stock exchange, clarifying on media reports it was in talks to sell up to 26 percent stake
Emirates Telecommunication Corp is considering different options in the Indian market and did not rule out an investment in Idea Cellular, its international chief said earlier this month.
(Reporting by Devidutta Tripathy)