The deal is finally over with, Idea has bought the Modi’s 40.80 stake in Spice Communications at Rs 77.30 a share. The stake, valued at Rs 2,175 crore will see a non-compete fee of Rs 544 crore paid to the Modi’s. Additionally, Telekom Malaysia will not hold more than 20%…

The conflicting reports have now been put to rest. As earlier reported by CS, Idea has finalized the acquisition of BK Modi’s 40.8% stake in Spice communications for Rs 2,200 crore. The final deal pegs the value of each share between Rs 77 and Rs 78, a premium of 45%…

Early reports coming in from CNBC state BK Modi is exiting Spice Communications with Idea picking up 40% stake. Idea will replace Modi as the Indian partner with Telekom Malaysia before merging with Spice Communications. Additionally, Telekom Malaysia, which owns 29% stake in Spice will get a proportionate stake in…

Saket Agarwal has been made the CEO of Spice group company Spice Mobile VAS/Cellebrum, reports EFY Times. A fairly significant player in the Cellebrum ranks, Agarwal was the COO of the company prior to the promotion. As per Cellebrum’s website, he’s been in the telecom field for over 15 years,…

Multi Screen Media, the company formerly known as Sony (NYSE: SNE) Entertainment Television, has sold 32 percent stake to the BK Modi group for $320 million, report Variety and NDTV. The acquisition is through Modi’s company MCorp Global. MSM hasn’t confirmed the deal, although Exchange4media.com sources have. Some details on…

Spice Mobiles, the mobile arm of the BK Modi controlled Spice Telecom, have launched two 3G handset in collaboration with Qualcomm (NSDQ: QCOM). ET quotes Spice Mobiles, Vice President, Modi, stating Spice Mobiles is targeting sales of four million handsets this year and half a million 3G handsets separately. Serious…

[with inputs from Cerius Shah] —BSNL has decided to reduce tariffs for leased line Internet ports by up to 33 percent, which might result in a reduction of Internet access costs. A one mbps connection will now cost ISPs Rs. 5.1 lakh, down from Rs. 8.5 lakh. Whether this reduction…

[by Cerius Shah] Spice, who operates in India via a JV with Telekom Malasia, which holds 39.2% stake, plans to raise $500 million through a Dubai IPO. According to this Bloomberg report, this would make it the first Indian company to sell shares in the Middle East. They plan to…

[by Cerius Shah] If it reads like a fight it probably is one. In what seems to be the start of DoT vs World, Round 2, the Department of Telecom is getting loads of grief over their spectrum and license allocation policies from the TRAI and now the GSM lobby…

With people willing to spend lakhs to acquire a specific mobile number and rival Bharat Sanchar Nigam Ltd logging nearly Rs10 crore this week by auctioning fancy numbers to number-crazy people, Spice Telecom is also holding an online auction for some 20 odd phone numbers. [via Business Standard] The telecom…

Silicon Valley-based publisher and distributor of mobile content Mobifusion will provide its content to subscribers of Spice Telecom, the cellular service provider in the states of Punjab and Karnataka. [via release ] Spice’s mobile subscribers will now have access to Mobifusion’s catalog of comprising titles such as Roget’s Thesaurus, London…

Y’know how it goes, right? Operators race to become the first to launch a particular service, and they all end up launching similar products not willing to be left out. Spice Telecom has joined forces with My FM, the Bhaskar Group’s radio venture to launch Spice MyFM, reports Indiantelevision. Apart…