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Friday, October 10, 2008

  • New 2G players face hefty sellout fee, sale of over 50% to attract acquisition levy equivalent to market value: ET
  • Tata Power looking at increasing stake in Indonesia’s Bumi Resources, has 30% in two unlisted coal subsidiaries of Bumi: ET
  • M&M-BAE Systems JV fails to get necessary approval for 49% stake of foreign partner
  • Hindalco
    -Promoters mop up 4 million shares from open market in last two days: BS
    -Rights issue may devolve; underwriters may have to pick 20%; promoters have promised to subscribe to 50%: ET
  • Tata Communications South African arm Neotel looking to raise USD 1 billion for expansion: BS
  • ONGC seeks stake in Kazakhstan oil company with 194 million tonnes recoverable reserves: DNA Money
  • Arcelor-Mittal, Tata Steel eye stake in 18 abandoned mines of Coal India: DNA Money
  • Cairn India yet to get ‘right of use’ for Rajasthan pipeline from state government: HBL
  • Philips, GE, Siemens eye L&T medical division: BS
  • Nagarjuna Construction gives up on Blackstone, delay helped Blackstone to save substantial money: Mint
  • Citi Bank, Reliance Retail plan 50:50 finance JV: BS

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