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Idea Cellular silent on stake sale

September 22, 2010
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Idea Cellular has declined to confirm or deny reports that it was in talks with two companies to sell up to 26 percent stake, saying it is "continuously evaluating different proposals". In a regulatory filing, the operator noted, "The company continuously evaluates various 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." According to reports, the company is in talks with two firms including the United Arab Emirates-based, Emirates Telecommunications Corp.

 
 
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