IDEA-SPICE DEAL 4th LARGEST M&A IN INDIA
The buyout of Spice Telecom by Idea Cellular is the fourth largest merger and acquisition deal involving an Indian entity and may be a pre-cursor to more such transactions in the telecom space.
The Financial Express
Showing posts with label Aditya Birla group. Show all posts
Showing posts with label Aditya Birla group. Show all posts
Sunday, June 29, 2008
IDEA GETS SPICE FLAVOUR
It’s consolidation time in India’s booming telecom industry. Idea Cellular, the fifth largest mobile operator in terms of subscriber base, is acquiring 40.8 per cent stake in its smaller rival Spice Communications for Rs 2,716 crore. The deal will help Malaysian telecom major TM International (TMI) to convert its 32 per cent stake in Spice Communications to Idea shares. In other words, TMI will hold 18-20 per cent stake in Idea after the Aditya Birla group firm merges Spice with itself.
Hindustan Times
It’s consolidation time in India’s booming telecom industry. Idea Cellular, the fifth largest mobile operator in terms of subscriber base, is acquiring 40.8 per cent stake in its smaller rival Spice Communications for Rs 2,716 crore. The deal will help Malaysian telecom major TM International (TMI) to convert its 32 per cent stake in Spice Communications to Idea shares. In other words, TMI will hold 18-20 per cent stake in Idea after the Aditya Birla group firm merges Spice with itself.
Hindustan Times
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