Mumbai: Telekom Malaysia's investment arm, TM International, and Singapore Technologies Telemedia acquire a 47.7% stake in Idea Cellular from Cingular Wireless for about $390m

Telecom Asia, Jan, 2005

Telekom Malaysia's investment arm, TM International, and Singapore Technologies Telemedia (STT) acquire a 47.7% stake in Idea Cellular from Cingular Wireless for about $390m. With the deal expected to close in the first quarter of next year, the consortium will emerge as the single largest shareholder.