Leading manufacturer and retailer of mobile phones Spice Global is in talks to buy the Dubai-based Cellucom and other distressed regional mobile retailers as part of a major push into the Gulf markets, according to a local media report.
According to a report in The National, Spice Chief Bhupendra Kumar Modi, is in discussions with Cellucom’s liquidators to buy up its assets. The company is in the process of establishing its regional headquarters in Dubai. “If Spice’s acquisition goes through, it would be part of the company’s plan to open 300-400 stores in the Gulf Cooperation Council (GCC) region by the end of next year, with an investment of about $150 million,” Modi told the daily.
(Published 30 May 2010, 16:54 IST)
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