The early logic of public provision of telecommunications services in India was justified on grounds of market failure, and employment creation. Market failure meant the private sector would either not be interested in...
World’s biggest IPO: Saudi oil giant Aramco eyes $1.71 trillion valuation
Saudi Arabia put a preliminary valuation on its state-owned oil giant Aramco of between $1.6 trillion and $1.71 trillion, missing Crown Prince Mohammed bin Salman’s initial $2 trillion target. In an updated prospectus...
Yes Bank looking for $1.2 billion funding by December, give board seat to new investors
Private sector lender Yes Bank is aiming to finish a USD 1.2 billion (about Rs 8,462 crore) equity raising exercise by December and willing to give new investors a board seat, according to a top official. The bank...
Air India invites bids from law firms to review business contracts, legal, labour issues
Flag carrier Air India is looking to hire a law firm for due diligence process for proposed disinvestment of its three businesses — Air India Ltd, Air India Express Ltd, and Air India SATS Airport Services Ltd. Air...
GVK deposits Rs 1,248 crore in escrow account to acquire stake in Mumbai International Airport
GVK group on Thursday deposited Rs 1,248 crore in an escrow account for buying out Bidvest’s share in Mumbai International Airport (MIAL), people aware about the development said. The arbitration tribunal had directed...
M&A activity remains sluggish in September quarter: Grant Thornton
Mergers and acquisitions (M&A) deal activity in the third quarter of calendar year 2019 witnessed a downtrend, with total values falling by more than half as compared to the same period last year, according to the...
McNally creditor withdraws insolvency petition after out-of-NCLT settlement
Financially stressed Williamson Magor group, promoted by the Khaitan family, got a major relief on Friday as the Kolkata bench of the National Company Law Tribunal (NCLT) allowed a financial creditor to withdraw its...
Volkswagen completes merger of three Indian units
German automobile manufacturer Volkswagen Group has completed the merger of its three Indian subsidiaries, as part of its efforts to arrest falling sales and revenue by saving incremental costs, utilising combined...
Repaying debt: Over 90 per cent of promoter stake in Zee pledged
Punit Goenka, CEO of Zee Entertainment Enterprises (ZEEL), said on Saturday that over 90% of the promoter holding in the company has been pledged. Goenka was addressing analysts following a disclosure made by VTB...
Taboola and Outgrain announce merger
Digital advertising platforms Taboola and Outbrain have entered into an agreement to merge, in order to provide enhanced advertising efficacy and reach marketers worldwide. The merger is also aimed at “helping news...
A first for PSUs: NHPC acquires Lanco’s Teesta-6 hydro project under IBC
In a first instance of a state-run company acquiring a stressed asset under the insolvency and bankruptcy code, NHPC on Friday signed an agreement to take over and implement the 500-MW Teesta-6 hydro electric project in...
Air India divestment: SPA to be shared with bidders at EoI stage
Taking lessons from last year’s failed attempt to privatise Air India, the government has, this time round, decided to share the actual “sale and purchase agreement (SPA)” privately with prospective bidders at the EoI...
