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Idea – Spice Merger Complete; Telekom Malaysia To Hold 14.99% Stake

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The deal is finally over with, Idea has bought the Modi’s 40.80 stake in Spice Communications at Rs 77.30 a share. The stake, valued at Rs 2,175 crore will see a non-compete fee of Rs 544 crore paid to the Modi’s. Additionally, Telekom Malaysia will not hold more than 20% stake in the new entity according to Idea Chairman, K.M. Birla, in this ET report. Idea plans to to spend Rs 10,000 crore ($2.3 billion) over two years and the company does not plan any further acquisitions. Our previous coverage with details on merger here.

2 Responses to “Idea – Spice Merger Complete; Telekom Malaysia To Hold 14.99% Stake”

  1. Mohit K.Aggarwal

    hi,
    Acc.to my point of view this merger can be very helpful for the idea cellular to acquire a largest market share. & providing the good coverage and facilites to the cuutomer.this will also help the company to survive in the highly cmptititive environment.

    Thanks & Regards
    Mohit Aggarwal
    MBA (HRM & Mt.)
    Yamunanagar.