Articles > Reference > News Wires, White Papers, and Books > The Hindustan Times news wires > October-December 2007 > Monday, October 8

Article: Suitors regroup around Spice

Article from:
The Hindustan Times
Article date:
October 8, 2007
Copyright

NEW DELHI, India, Oct. 8 -- Apprehending that spectrum allotment will not be easy after last month's mad scramble for new telecom licences, three operators - Telekom Malaysia, Maxis through Aircel, and Idea Cellular - are planning to take control of Spice Communications, the smallest Indian telecom company.

Telekom Malaysia, which has just concluded a restructuring at home, has upped its ante for Spice Communications, in which it holds a 39.2 per cent stake. The BK Modi family owns another 40.80 per cent.

Telekom Malaysia is in the cellular business in 10 Asian countries, including India and Indonesia, totting up a customer base of 31.8 million, up 33.1 per cent in the first half of 2007. ...

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