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Ideal Cellular to Buy SPICE Cellular

NEW DELHI: Idea Cellular is set to acquire BK Modi’s 40.8 per cent stake in Spice Communications for around Rs 2,200 crore at Rs 77.50 per share. A top industry source confirmed that the two companies have finalised the deal at Rs 77-78 per share, a premium of 45 per cent to Spice’s closing share price of Rs 53.2 on Monday. The deal pegs the valuation of Spice Communications at Rs 5,347 crore....