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General

Modi To Merge With Telstra And Spice

Thursday 22 June 2000 | 00:00 CET | News
THE B K Modi group companies, Modi Telstra and Spice Communications are likely to be merged early next year. Mr Venkatraman, Chief Operating Officer, commented: “We are keeping all our options open and this is a picture that might emerge in the near future.” According to an agreement signed between Modi Telstra and erstwhile Australian partner, Telstra, the name Modi Telstra can be used till December 2000. The company is yet to get approval from the Reserve Bank of India (RBI) and the Foreign Investment Promotion Board (FIPB). Modi Telstra, AIG and Distacom hold 85 percent

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Categories: General
Countries: India
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