<http://www.dealcurry.com/20100531-Spice-Global-To-Buy-Dubai-s-Cellucom.htm>
*Spice Global *is planning to acquire Dubai-based *Cellucom* and other distressed regional mobile retailers to expand its business in the Gulf market. If the deal materializes, Spice will open 300-400 stores in the Gulf Cooperation Council region by the end of next year, with an investment of about $150 mn (550.9 mn Dubai dirham). Singapore-based Indian conglomerate Spice Global has more than 700 Spice HotSpot mobile retail stores in India. Spice Global is in the process of establishing its regional headquarters in Dubai. Transaction Note Cellucom part of *Al Rostamani group*, is a retail and mobility solutions provider that is a member of the with cell phone outlets across the Gulf countries, Africa and India. In 2007, the Al Rostamani Group bought 51% stake in electronics retailer Cellucom. Late last year, the chain shut down all its stores across the UAE. In February 2009, Bhupendra Kumar Modi's Spice Group has already bought the Indian subsidiary of Cellucom. It bought 100% stake in Cellucom India in an all-stock deal. In turn, Cellucom got a 26% stake in Spice Group's mobile retail venture HotSpot. India’s telecom players are looking out for global markets to capture the world’s growing telecom market. This year, there have been major deals in this space. Few of them include *Gemini Communication *acquiring* Rosy Blue Wireless (RBW) *in Africa and *Bharti Airtel *acquiring Kuwait-based Zain Telecom’s African business for $10.7 bn. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
