Idea and Spice merger approved by regional court, awaits Delhi decision

1 Dec 2009

Malaysian mobile group Axiata Group, a minority shareholder in Indian cellcos Idea Cellular and Spice Communications, announced in a statement yesterday that a plan to merge the two GSM operators has been approved by the High Court of Gujarat. The decision on the application made by Idea, dated 26 November 2009, follows announcements on the proposed merger on 25 June 2008, 7 September 2009 and 14 September 2009 as well as a circular to shareholders issued by Axiata dated 17 July 2008. The proposed merger is also subject to the approval of the High Court of New Delhi.