Spice Buys NewTel

Through the acquisition, Spice i2i becomes the first Singapore company to venture into the Myanmar mobile communications market

December 7, 2010

1 Min Read

NEW DELHI -- Spice i2i Limited ("Spice i2i" or “TheGroup”, formerly known as MediaRing Ltd), Southeast Asia’s premiermobile internet company, mobile handset distributor and IPcommunication solutions provider of voice, data and computingservices, today announced its acquisition of NewTel Corporation Co.,Ltd, Thailand’s leading producer, distributor and wholesaler of mobilephones. The acquisition of NewTel Corporation, known for the WellcoMMobile brand, paves the way for Spice i2i to extend its market shareto the Greater Mekong Sub-region, which includes countries such asThailand, Vietnam, Myanmar, Cambodia and Laos. NewTel Corporationposted a turnover of approximately US$56 million for the year 2009.

Key facts on NewTel Corporation:

  • The second largest local mobile handset player in Thailand,with around 8 per cent market share.

  • A company with a network of more than 3,000 sub-dealers andover 60 WellcoM partners in Thailand.

  • In 2009, the company sold more than 700,000 mobile phonesthrough its network of partners, sub-dealers and retail stores.

“We are very pleased to have completed the acquisition of NewTelCorporation in Thailand. This move demonstrates Spice i2i’s commitmentto realise our Circle of Champions vision - to become one of theleading mobility players in the local markets of the i2i (Ivory Coastto Indonesia) region. By leveraging NewTel Corporation’s network, wewill also become the first Singapore company to penetrate the Myanmarmobile communications market, bringing the mobility concept direct tothe Myanmar consumers and making it more accessible for them,” saidDr. B.K. Modi, Chairman of Spice Group.

Spice Mobiles Ltd.

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