Malaysian Khazanah might get Idea Cellular Stake

Malaysian interest in Indian telecom does not seem to be ending. After the Maxis – Aircel and Telekom Malaysia – Spice deals, there are reports that Malaysia?s state investment firm – Khazanah Nasional Bhd is in talks to buy a one-third stake in Idea Cellular.

Khazanah might take up a 33% stake conglomerate Aditya Birla was selling in Idea, Malaysia?s Edge weekly said.The Aditya Birla group has recently doubled its stake in Idea to 98% by buying out the Tatas. Birla has stated that it wants to cut its holding to 65%, but not through a sale to another mobile operator. Khazanah would be a good bet for Birla as it is a financial investor with government links.What is interesting to note here is that Telekom Malaysia, which recently bought a 49% stake in Spice, is controlled by Khazanah. Therefore, Idea and Spice will have a common investor in Khazanah if the deal goes through. Whether this leads to the merger of Idea and Spice is anybody?s guess.

Source: Money Control via [Mobile Pundit]

Author: Varun Krish

Varun Krish is a Mobile Technology Enthusiast and has been blogging about mobile phones since 2005. His current phones include the Apple iPhone 13 Pro and Google Pixel 6. You can follow him on Twitter @varunkrish and on Google+ You can also mail Varun Krish