Spice D-6666

Last Updated on Sunday, 1 November o 06:20 Written by admin Sunday, 1 November o 06:20

Spice Mobiles has announced the launch of its first flexi dual handset, Spice D-6666. The Spice D-6666 offers the flexibility to choose between GSM+CDMA mode or GSM+GSM mode in a single phone.

Spice D-6666 features a 2.4 inch screen display with 320 X 240 pixels screen resolution, 2 megapixel camera with flash. The Spice D-6666 Dual SIM Mobile Phone is integrated with Bluetooth, GPRS, WAP, and FM radio with recording, MP3 player and 4 GB expandable memory.

Ideal Cellular to Buy SPICE Cellular

Last Updated on Wednesday, 11 June o 09:29 Written by admin Wednesday, 11 June o 09:29

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. The company is likely to make an announcement in the next few days.

After buying out the Modis, Idea Cellular will make the mandatory open offer for 20 per cent stake in Spice that is currently held by the public. The two companies will be subsequently merged, said a source.

Telekom Malaysia, which currently holds 39.2 per cent in Spice Communications, will be given a proportional stake in the combined Idea-Spice entity, sources said. ET had reported about a possible merger between Idea and Spice in its edition dated June 4.

Industry analysts and market watchers say Idea is paying a ‘considerable’ premium, considering that Spice shares closed at Rs 53.2 on Monday, up 2.4 per cent. At Monday’s closing price, the Modis’ stake is valued at Rs 1,497.5 crore, making the entire company worth Rs 3,670.3 crore.