The government will this month invite Expression of Interest or preliminary bids for privatising Container Corporation of India (Concor), an official said on Wednesday. The official said the bid document for Concor is...
Spanish government extends deadline to sell stake in Caixabank
The Spanish government has extended the deadline to sell its 17.3% stake in Caixabank, worth some 5 billion euros ($5.3 billion) at current market prices, by two years to the end of 2025, saying it aimed to get the best...
Government working out transaction structure of RINL strategic sale, says DIPAM Secretary
The government is working out the transaction structure for the strategic sale of RINL or Vizag Steel, DIPAM Secretary Tuhin Kanta Pandey said on Friday. The Cabinet Committee on Economic Affairs had in January 2021...
Union government, LIC to divest over 60 per cent stake in IDBI Bank
The Union government and Life Insurance Corporation of India (LIC) informed that they will be divesting 60.72 per cent stake in IDBI Bank on Friday. Expressions of Interest (EoIs) from likely bidders will be invited on...
RBI sets stage for government, LIC stake sale in IDBI Bank
Setting the stage for commencing the sale of government and LIC shares in IDBI Bank, RBI is willing to relax the cap on maximum shareholding, provided they submit a plan for phased reduction of equity. The banking...
Government plans to start next round of public sector bank mergers
The government plans to initiate the next round of public sector bank mergers after analysing a detailed study that has been commissioned on the outcome of amalgamation in state-run banks, a senior finance ministry...
PSB Privatisation Bill may allow government complete exit
The government will likely introduce a bill in the upcoming monsoon session of Parliament to make amendments to facilitate the privatisation of state-run banks. One of the amendments under consideration is allowing the...
Government mulls selling stakes in Hindustan Zinc Ltd, ITC; DIPAM begins talks
The government is considering the sale of its stakes in Hindustan Zinc Ltd (HZL) and ITC among others to meet the disinvestment target for the current fiscal, said people with knowledge of the matter. The delay in the...
‘Partial sale of government stake in BPCL may not work’
Selling just a part of the government stake in BPCL when its privatisation bid is revived may not work, a person familiar with the matter said. The government has been reportedly toying with the idea of selling part of...
Government to hold 33% stake in Voda Idea post equity conversion: Ravinder Takkar
The government will hold around 33% in Vodafone Idea (Vi), post-conversion of the latter’s accrued interest liability (on deferred dues) into equity, while the telco’s promoters—UK’s Vodafone Plc and India’s Aditya...
Government defers proposal to merge BSNL, MTNL due to financial reasons
The government has deferred the merger of state-run telecom firms BSNL and MTNL due to financial reasons, Parliament was informed on Wednesday. Minister of State for Communications Devusinh Chauhan in a written reply to...
Italy masts M&A looms as government moves to cut Rai Way stake – sources
Prime Minister Mario Draghi has approved a decree allowing Italy’s state broadcaster RAI to cut its holding in towers unit Rai Way below 51%, three government officials said, in a move expected to trigger sector...