Idea Cellular has acquired the B.K. Modi Group's 40.8 per cent stake in Spice Communications at Rs 77.30 per share aggregating to Rs 27.16 billion. In addition, Idea also bought another 0.29 per cent stake in Spice at a price of Rs 74.81 per share. Going further, Telekom Malaysia International (TMI), which holds 39.2 per cent share in Spice Communications, will be offered 469 million shares by way of preferential allotment in the merged entity for Rs 156.96 a share. This will allow TMI to obtain nearly 14.99 per cent stake in Idea. The acquisition is expected to be completed by 2009. Meanwhile, Idea Cellular is launching an open offer for an additional 20 per cent stake in Spice. The offer, which will remain open from August 22, 2008 to September 11, 2008, is to acquire up to 137 million equity shares at a price of Rs 77.30 per share.