Idea Cellular may merge with Spice Comm

Idea Cellular may merge with Spice Comm
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First Published: Thu, Jun 18 2009. 11 24 PM IST
Updated: Thu, Jun 18 2009. 11 24 PM IST
Bangalore: Telecom services provider Idea Cellular Ltd said it will consider merging its operations with Spice Communications Ltd, according to a filing to the Bombay Stock Exchange on Thursday.
The merger, which follows Idea’s acquisition of a controlling stake in Spice last year, will give Idea access to two new regional markets, said Harit Shah, an analyst at Angel Broking Ltd in Mumbai. Shah has a reduced rating on Idea.
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First Published: Thu, Jun 18 2009. 11 24 PM IST