Spice Communications considering entering Bangladesh with an acquisition

Market sources are claiming that the Indian mobile service provider Spice Communications is looking to acquire a GSM firm in Bangladesh.

The report said that they are considering acquiring a company in partnership with Telekom Malaysia. Spice provides their services in India in Punjab and Karnataka.

Spice Communications Chairman B K Modi was quoted as saying in the media: “We are looking at expanding our presence in Bangladesh as we feel that there is lot of potential for telephony growth and we are looking at setting up brownfield operations.”

Telekom Malaysia is a 49% stake holder in Spice and they might help them in the acquisition. They had also stated sometime back that they intend to expand their presence in other Asian countries including Indonesia and Bangladesh.