Maxis eyeing Spice ?
January 28, 2006 · Filed Under Mobile
Earlier I reported that Maxis Telecom promoted by Malaysian billionaire Anand Krishnan had bought a majority stake in Aircel. Maxis having entered India through Tamilnadu now wants to consolidate further in Karnataka and Punjab by buying out B.K.Modis out of Spice Telecom. Modis hold 51% stake in Spice.
Maxis is also the largest Telecom player in Malaysia and with further consolidation in India it might well be leading in the Asian corridor dream of Telcos.
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[...] Telekom Malaysia has bought 49% stake in the Modi’s controlled Spice Telecom. Spice Telecom is a GSM operator operating in the circles of Punjab and Karnataka since 1995. Though Spice has competed well in Punjab it is far behind in the number of subscribers it has in Karnataka, a mere 400,000. Spice was in talks with Telekom Malaysia and Maxis since early Feburary this year. Telekom Malaysia paid $180 million for a 49% stake thus valuing Spice at $360 Million(Rs1600 crores). I learn from my insiders that Spice has added around 100,000 users in the past 3 weeks thus taking the total subscriber base to 19,00,000. Telekom Malaysia got a deal by just paying Rs8,400/subscriber while Maxis had paid Rs14,300/subscriber when it acquired Aircel. [...]
[...] I had earlier reported about the Asian corridor deram which Maxis, Singtel, Bharti and others are pursuing. It was formed under the brand name Bridge Mobile Alliance(BMA). BMA partners include CSL (Hong Kong), Globe Telecom (Philippines), Maxis (Malaysia), SingTel Mobile (Singapore), SingTel Optus (Australia), Taiwan Mobile (Taiwan) and Telkomsel (Indonesia). It is interesting to see that Hutch has not yet joined the alliance nor their are any members from Japan. The alliance partners are pooling in $40 million to upgrade their infrastructure to be comaptible. [...]