Mahanagar Telephone Nigam (MTNL), which had emerged as the front-runner to acquire Sri Lankan telecommunications firm Suntel for about $180 million, has reportedly put the acquisition plan on hold.
The rights issue of Thomas Cook (India) is set to open today, 31 December 2008, the company said late on Tuesday (30 December 2008). It proposes to offer 35 shares for every 100 held at Rs 35.50 each, raising nearly Rs 200 crore from the issue. A part of the proceeds will be used to redeem preference shares worth Rs 117 crore and to repay debt worth Rs 70 crore, it said. The issue closes on 14 January 2008.
Citigroup Global Market Mauritius has sold 30 lakh shares, or 12.03% of equity, in Taneja Aerospace & Aviation at Rs 29 each, data on the BSE showed on Tuesday (30 December 2008).
GE Commercial Finance, a unit of General Electric, is all set to hive off its construction equipment finance business into a separate Rs 650 crore - Rs 800 crore joint venture and is reported to be in talks with Infrastructure Development Finance Company (IDFC) and IDBI for a partnership.
Barclays Bank Plc has reportedly dragged cement maker Sanghi Industries to the London Court of International Arbitration for alleged non-payment of Rs 179 crore following losses from derivatives transactions executed between January and April 2008.
Teledata Informatics reportedly plans to sell off its stake in Singapore-based Esys Technologies, which it bought in 2007 for $105 million
The retail sales of drug makers in India reportedly grew by 10.3% till November 2008, at Rs 33769 crore, compared with the corresponding previous 12 months, according to ORG-IMS, which tracks pharmaceutical drugs sales in India.
Powered by Capital Market - Live News