Indian mobile phone operator Idea Cellular has issued a notice to the Mumbai stock exchange saying it continues to evaluate business proposals.
“The company continuously evaluates various proposals from time to time. As and when a definitive proposal is…
Indian mobile phone operator Idea Cellular has issued a notice to the Mumbai stock exchange saying it continues to evaluate business proposals.
“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.”
This notice follows media reports writing last week that investors, including UAE-based Etisalat, were in talks to buy a 26% stake in the mobile operator.
Several days ago, Etisalat said it had no formal plans to invest in Idea Cellular. But its CEO for international investments, Jamal Al-Jarwan, reasserted Etisalat’s interest in the company, as part of its intentions to invest in the Indian telecom market, according to local reports.
Etisalat and Idea Cellular could not be reached for comment.
