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INDIAN FIRM IDEA MAKES OFFER FOR FURTHER 20% STAKE IN SPICE COMM.
MUMBAI, July 1 Asia Pulse - Aditya Birla group firm Idea Cellular (BSE:532822) on Monday made an open offer to the shareholders of Spice Communications for acquiring additional 20 per cent stake in the telecom services provider for about Rs 1,06663 million (US$24,857).
Idea Cellular along with Persons Acting in Concert (PACs), including Telekom Malaysia International (TMI), TMI Mauritius, TM International Berhad and Green Acre Agro Services have made the open offer for a further 20 per cent stake in Spice Communications.
Idea Cellular along with the PACs have made the open offer for acquiring up to 137,985,050 equity shares representing 20 per cent of the paid-up equity share capita of Spice Communications at Rs 77.30 each.
The open offer would start on August 22, and would close on September 11, the company said in a filing to the Bombay Stock Exchange.
Earlier on June 25, Idea Cellular, the fifth-largest mobile operator in terms of subscribers, said it ...
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Source: HighBeam Research, INDIAN FIRM IDEA MAKES OFFER FOR FURTHER 20% STAKE IN SPICE COMM.