Idea Cellular defers open offer for Spice Comm

Aditya Birla group firm Idea Cellular today said it has deferred its open offer for an additional 20 per cent stake in Spice Communications following a delay in approval for the same from the market regulator Sebi.     

In an announcement made to the shareholders of Spice Communications, Idea Cellular said the revised schedule for the open offer of Rs 1,066.62 crore for a 20 per cent stake in the firm would be announced separately.     

"The open offer was earlier scheduled to open on August 22 and close on September 11," the company said in a filing to the Bombay Stock Exchange.