Financial Daily from THE HINDU group of publications
Thursday, Feb 03, 2005

News
Features
Stocks
Port Info
Archives
Google

Group Sites

Corporate - Mergers & Acquisitions
Info-Tech - Telecommunications
Industry & Economy - Foreign Direct Investment


Singapore group may hike stake in Idea Cellular

Our Bureau

New Delhi , Feb. 2

WITHIN hours of the Government announcing the new FDI policy, Singapore Technologies Telemedia Pte Ltd and TM International Sdn Bhd, said that the consortium would evaluate the option to purchase additional shares in Idea Cellular.

The two companies at present hold 48 per cent in Idea Cellular after it bought out the US major AT&T's stake. The remaining equity is held by the Birla Group and Tata Group.

"The consortium welcomes the decision of the Indian Government to hike the FDI limit in telecom sector from 49 per cent to 74 per cent. This will prove to have a positive impact on the growing Indian telecom market and will lead to long-term players providing better quality services and absolute value to the end consumer. The consortium will evaluate the option to purchase additional stake at an appropriate time," said a statement from the consortium.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page


Stories in this Section
Fire at Hyundai plant may affect output for a week


Dr Reddy's to take up trials of drug for side-effects of radiation therapy
Ranbaxy gets FDA nod for Clarithromycin
Strides Arcolab supply tie-up with Aussie co Mayne to include Europe
International Cars to start making multi-utility vehicles from May — Puts off car launch plans
Tata Coffee mulls price hike
Gujarat Ambuja board raises limit for FII, OCB shareholding
Orders galore for Jessop's EMU unit
Finolex hikes resin, pipe prices
DCI to pay 40 pc interim
Neuland gets European CoS
TDSAT adjourns Zee-Turner, Asianet case till Feb 16
Glenmark launches $70-m FCCBs
Kirloskar Electric shifts transformer unit to Mysore
Singapore group may hike stake in Idea Cellular
JK Investo Trade hits upper ceiling
HC nod for ITC Hotels merger
Indian Seamless to merge 2 group cos
KIC Metaliks to set up billet, coke oven plants
Talbros Automotive to set up two units this year
SEIL plans Rs 300-cr sponge iron plant in AP
Rajesh Exports in talks to form venture with Australian mining co
Bata shareholders okay 1:4 rights issue
Revival package for Vizag units
Eveready in tie-up with Khivraj to set up tech park in Chennai
Pradhan is acting CMD of Nalco


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line