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Idea buy out

NEW DELHI, JUNE 1. The Singapore Technologies Telemedia (STT) and the Malaysian Telekom combine have reached an agreement with the AT&T for acquiring its 33 per cent stake in mobile operator Idea Cellular Ltd. "A broad agreement has been reached where the combine will buyout the one-third stake of Idea Cellular," a statement by Idea said here. The transaction was expected to close in the next few weeks, it said, adding, "The AV Birla group and the Tata group will continue as shareholders in the company."

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