Idea Cellular plans to oppose an ex parte order obtained by the Department of Telecommunications (DoT) on the merger of Spice Communication with itself, a deal it said was approved over a year ago.
In a statement to stock exchanges, Idea Cellular said it was in the process of filing the necessary application before the Delhi High Court seeking to lift the stay.
Idea Cellular, which in 2008 agreed to buy Spice in a three-way deal that also gave Malaysia’s Axiata a fifth of Idea, said the merger was approved by the High Court of Gujarat in November 2009 and by the Delhi High Court in February 2010.
Spice Communications’s operations have already been merged with Idea.
