Business Daily from THE HINDU group of publications
Thursday, Aug 21, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Aug 21, 2008 ePaper | Mobile/PDA Version | Audio |
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Info-Tech
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Telecommunications Marketing - Brands
Adith Charlie Mumbai, Aug. 20 Spice Telecom, which was recently acquired by Aditya Birla group company Idea Cellular, will cease to exist as an independent brand in the next four to six months. In the Punjab and Karnataka circles, the Idea brand will replace Spice, a senior official with Idea Cellular told Business Line. On January 2008, Idea was awarded licences for new circles, including Karnataka and Punjab. However, in June 2008, it acquired Spice, which was operating mobile services in these two circles. (Idea Cellular picked up 40.8 per cent stake in Spice Communications for about Rs 2,176 crore; subsequently both companies announced they would merge their businesses) Recently, the Telecom Secretary, Mr Siddartha Behura, was quoted as saying that Idea Cellular will have to surrender one each of the Karnataka and Punjab licences in accordance with the regulations. It is learnt that Idea had indicated its willingness to demerge its licenses in the Punjab and Karnataka circles into a separate entity. Idea Cellular is waiting for a response from the DoT on the license issue, and for completion of the various regulatory processes before it goes in for the name change (in the acquired circles), the official said. The entire merger process between Idea and Spice is expected to be completed by the end of the current fiscal. More Stories on : Telecommunications | Brands | Idea Cellular Ltd
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