Tata''s looking at IPO or acquisition of Cingular''s stake

By Our Corporate Bureau | 22 Jun 2005

Hyderabad: With Singapore Technologies Telemedia and Telekom Malaysia (STT-TM) consortium deciding not to acquire a 47 per cent stake in Idea Cellular, the Tatas, one of the major partners, have indicated that the company will look at other options including an initial public offer (IPO) or even acquiring Cingular Wireless'' stake in Idea Cellular.

Cingular has already expressed its desire to exit Idea Cellular.

All the three partners of Idea Cellular — Tatas, Birlas and Cingular Wireless (formerly AT&T) have decided to meet in the next few days at Mumbai to chalk out the future course of action, including finding a new partner, expansion and investment plans, officials have indicated.