i Develop Stocks Advisory

Telekom Malaysia looks at higher stake in Idea In the three-way talks currently going on between Idea, Spice Communications and Telekom Malaysia, the Malaysian company is seeking to hike its stake in Idea, NDTV has learnt. Under the deal, the majority shareholder in Spice, BK Modi, is likely to sell his entire 40.8 per cent stake to Idea for over Rs 2,200 crore. After Spice’s merger with Idea, Telekom Malaysia, another big shareholder in Spice with 39.2 per cent stake, would get 5.2 per cent stake in lieu of stake in Spice. But the Malaysian company is likely to pay over $2 billion for an additional 14.8 per cent stake in Idea, at Rs 155 per share, say sources. Spice subsidiaries Celebrum and Omni are also likely to be part of the deal, they add.