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Spice Communications to amalgamate into Idea Cellular
By siliconindia
Mumbai: Spice Communications will amalgamate into Idea Cellular after receiving approval from its shareholders, secured and unsecured creditors.
To discuss the scheme of amalgamation, a meeting was held on the directions given by the Delhi High Court on September 11, said Spice Communications in a filing to the Bombay Stock Exchange (BSE).
The company also informed that the scheme of amalgamation was approved by the equity shareholders of the company with requisite majority and unanimously by the secured creditors and unsecured creditors.
Shares of Spice Communications were trading at 
74.60 on the BSE, up 4.56 percent from previous close. Last year in October, Idea Cellular had acquired 98.9 percent in Spice Communication at 77.30 a piece.
74.60 on the BSE, up 4.56 percent from previous close. Last year in October, Idea Cellular had acquired 98.9 percent in Spice Communication at 77.30 a piece.