Spice Global in talks to buy Dubai's Cellucom
Monday, 31 May 2010, 03:47 Hrs | 1 Comments
According to a report in The National, Bhupendra Kumar Modi, the chief executive of the Singapore-based Indian conglomerate, which has more than 700 Spice HotSpot mobile retail stores in India, is in discussions with Cellucom's liquidators to buy up its assets. The company is in the process of establishing its regional headquarters in Dubai.
"If Spice's acquisition of Cellucom, which was one of the largest mobile phone retailers in the UAE, goes through, it would be part of the company's plan to open 300-400 stores in the Gulf Cooperation Council region by the end of next year, with an investment of about USD 150 million (550.
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