Idea’s Spice move

Mumbai, July 7: Aditya Birla Group firm Idea Cellular today acquired as many as 28.15 crore shares of Spice Communications at Rs 77.30 each aggregating to Rs 2,175.91 crore in a block deal on the Bombay Stock Exchange. Idea Cellular bought 28,14,89,313 shares. Earlier on June 25, Idea said it would acquire 40.8 per cent of Spice for Rs 2,716 crore.

HDFC stake

New Delhi, July 7: Citigroup may sell its $2 billion- stake in HDFC, a British media report said. Battered by the loss of billions of dollars from the sub -prime crisis, Citi has embarked on a major restructuring drive led by its India-born chief executive Vikram Pandit.

Oil block loss

New Delhi, July 7: The Nigerian government has cancelled the award of oil blocks to two Indian companies— Essar Exploration and Production Ltd and Sterling Global Resources Ltd a media report said.

UTI flotation

Mumbai, July 7: UTI Asset Management has put off plans for a $480- million share sale after falling stocks hit sentiment, joining about 10 other Indian firms that deferred offerings this year.

3G delay

New Delhi, July 7: The 3G policy may be delayed for a few days as the procedure of the Prime Minister’s Office returning the guidelines to the department of telecomcould be time-consuming.