Axiata not looking to change stake in India's Idea Cellular-exec

MUMBAI Thu Oct 18, 2012 4:21am EDT

MUMBAI Oct 18 (Reuters) - Malaysia's Axiata Group Bhd , which owns about a fifth of Indian mobile phone carrier Idea Cellular Ltd, is not looking at increasing or cutting its stake in the Indian company, a senior Axiata executive said on Thursday.

"We are happy with the status quo," Axiata Group Chief Financial Officer James Maclaurin told Reuters on the sidelines of an event in Mumbai.

Indian media reported last month Axiata was looking to raise its stake in Idea. Earlier this year, a media report said Axiata might be looking to sell part of the stake. (Reporting by Aradhana Aravindan; Editing by Sunil Nair)

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