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INFO-TECH: Spice Mobiles to merge with parent company.
from BUSINESS LINE, June 30, 2010 New Delhi, June 29 - Spice Global Group company Spice Mobiles Ltd said on Tuesday that it will be merged with parent company Spice Televentures Pvt Ltd by September.
The new consolidated company would be called Spice Mobility and would have three main business verticals - handsets, retail chains and value-added services.
The company expects about 4.2 crore treasury shares to be created from the merger, of which 3.2 crore shares will be sold in the market giving the company close to Rs 300 crore. The remaining 1 crore shares are to be kept for its employees.
Speaking at a meeting announcing the company's new business plans, …
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