India’s markets regulator on Friday fined Reliance Industries Ltd (RIL) and its chairman and managing director Mukesh Ambani a total of ₹40 crore for alleged manipulation in the trading of Reliance Petroleum Ltd’s...
Tiffany shareholders back LVMH takeover, ending long-drawn dispute
US jeweller Tiffany & Co’s shareholders on Wednesday approved a $15.8 billion deal with France’s LVMH, ending an acrimonious dispute between the two luxury retailers that had stretched for more than a...
Vedanta says no pledge on shares, fundraise conditions bar promoters from share sale
Vedanta Ltd’s promoters cannot sell or create any security on shares they hold in the group as part of the terms attached to the recent $1.4 billion fundraising — conditions which technically fall within the...
Reports of Microsoft acquiring Sony Corp turn out to be fake
The reports that stated tech giant Microsoft has acquired Sony Corp, including Sony’s gaming division Playstation in an astounding $130 billion deal turned out to be false. The report, initially published by Spanish...
Reliance-BP consortium invites bidders for gas from KG D6 basin
Reliance Industries Ltd and UK’s BP Plc today invited companies to bid for gas produced from the KG D6 basin. They expect to sell the gas from February. “The gas produced for KG D6 will be available for sale...
Oaktree agrees $400-mn Vedanta Resources debt investment
A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks to meet liquidity needs. The notes will be partly secured by shares in Mumbai...
Behind the LVMH-Tiffany deal: Insults, lawsuits and political intrigue
Tiffany & Co. shareholders are expected this week to approve a merger with LVMH Moët Hennessy Louis Vuitton SE that would give the French luxury giant a big cut of the high-end jewellery market and close months of...
Amazon asks Sebi to wait for SIAC order
Amazon.com Inc. has asked India’s markets regulator to wait for the final order of a Singapore court before clearing the merger of Future group companies, a move that is seen as a precursor to an eventual sale of its...
Govt divestment in 2020 drops 37% on covid blow
The coronavirus pandemic dealt a blow to the Union government’s plan to raise funds through major stake sales and initial public offerings. The government managed to raise just ₹42,871.94 crore so far this year, down...
DLF to raise up to ₹500 cr for One Horizon stake
Real estate firm DLF Ltd’s rental arm DLF Cyber City Developers Ltd (DCCDL) will raise ₹400-500 crore of debt and another ₹200-300 crore from internal accruals to buy a majority stake in One Horizon Center in Gurugram...
Govt challenges Vodafone ruling in Singapore court
India has challenged in Singapore an international arbitration court’s verdict against it over a $2 billion tax claim involving Vodafone Group Plc, a senior government official said on Thursday on condition of anonymity...
Oaktree sweetens DHFL bid further
Oaktree Capital has upped its offer for Dewan Housing Finance Ltd (DHFL) by ₹1,700 crore on Thursday, intensifying a protracted bidding war with Piramal Capital and Housing Finance Ltd for control of the bankrupt...
