Spice Comm to announce expansion

The GSM carrier has more than 2 mn mobile users out of India's total market of more than 108 mn GSM and CDMA customers.

Indian GSM carrier Spice Communications Ltd, partly owned by Telekom Malaysia, is likely to announce later on Monday it will invest more than a billion dollars in network expansion, a source told Reuters.

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The source said Spice Communications, which operates a GSM network in two of the 23 circles making up India's booming telecoms sector, will also announce an initial public offering. Each circle is roughly equal to a large city or a state.

Spice has more than 2 million mobile users out of a total market of more than 108 million GSM and CDMA customers in the world's fastest growing cellular services market.

Spice Communications is due to hold a news conference at 3.30 pm local time (1000 GMT).