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Jul 5, 2011

Idea may appeal Apex Court against HC order

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The fifth major telecom company in India, Idea Cellular may the Supreme Court over the Delhi High Court's verdict on its merger with with Spice.

On Tuesday, the high court has slapped one crore rupees as fine on Idea Cellular for not providing information to the court over the merger with Spice.

The DoT had rejected the merge of Idea and Spice earlier. The DoT had filed petition with the high court challenging over the transferring six spectrum licenses to Idea Cellular.

However, the court cleared that those six spectrum licenses would not be transferred to Idea Cellular.

Following the court verdict, the shares of Idea Cellular shed by around 2 per cent at BSE on Tuesday.


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