Birla group owned, Idea Cellular announced that they will be taking over Spice Communications by acquiring 40.8% stake at Rs. 77.30/share from the Spice Group. The power hungry Idea will also team up with Telekom Malaysia International to take 20% more stake by offering an open price of Rs. 77.30/share to existing shareholders.

Advantages to Idea after the takeover are that:
- They will gain a direct entry in regions of Punjab and Karnataka, which account for 11% of India's total wireless subscribers.
- 44 lakh customers in their pocket.

The deal is expected to close by the end of this year.

http://www.telegyaan.com/2008/06/26/idea-cellular-takes-over-spice-communications/