Birla group owned, Idea Cellular announced that they will be taking over Spice Communications by acquiring 40.8% stake at Rs. 77.30/share from the Spice Group. The power hungry Idea will also team up with Telekom Malaysia International to take 20% more stake by offering an open price of Rs. 77.30/share to existing shareholders.
Advantages to Idea after the takeover are that:
– They will gain a direct entry in regions of Punjab and Karnataka, which account for 11% of India’s total wireless subscribers.
– 44 lakh customers in their pocket.
The deal is expected to close by the end of this year.
shanthraj says
why is it for.i need complete information.can you send me…
shanthraj says
i need complete information