Tag Archives: stak sale

Spice Telcom on stake sale to Idea Cellular

Spice Telecom spurted today by whopping 33 percent or so and closed the day at 72.35 after opening at 54.15 , The News buzz is that Idea Cellular said it would merge Spice with itself through a share swap whereby Spice shareholders would get 49 Idea shares for every 100 Spice shares held. Idea also said that it would make an open offer for additional 20% stake to Spice Communicaton shareholders at Rs 77.30 a share. So we will see if this runs more than this or just stops there.Spice Communication is a loss making company they have license in almost 6 to 7 states and they also procie internet and broadband based services.