The BK Modi-promoted Spice Group has acquired the Indian arm of Cellucom, a Dubai-based mobile retail chain, through a share swap deal.

The BK Modi-promoted Spice Group has acquired the Indian arm of Cellucom, a Dubai-based mobile retail chain, through a shareswap deal. According to the terms of the deal, Cellucom will take 26 per cent stake in the Spice Group’s mobile retail venture HotSpot, while Spice Corporation will buy 100 per cent share in Cellucom India Retail Private Limited.