Alphabet Inc’s Google has paid ₹33,737 crore to Reliance Industries Ltd’s (RIL) digital subsidiary, Jio Platforms Ltd, joining the list of global investors such as Facebook to have infused capital in the Mukesh Ambani...
Stake sales on track: FM
Reforms and stake sales in state-run companies will continue even as India refines rules and procedures to make life easier for businesses and strives for self-sufficiency, finance minister Nirmala Sitharaman assured...
LVB deal showcases new M&A battlefield
It seems there’s no stopping persistent bank failures in India. Over recent years, there this has happened across categories of banks: public sector banks (IDBI Bank), new private sector banks (Yes Bank) and cooperative...
Airtel partners with Vedantu to provide classes via DTH channels at ₹4 per day
Airtel Digital TV, the DTH arm of Bharti Airtel and Vedantu, a live online learning brand, announced a partnership to make education accessible to students across India by leveraging Airtel’s reach. Under the...
Byju’s to raise $200 million from BlackRock, T. Rowe
Online education startup Byju’s is close to raising $200 million in a fresh funding round from US investment firms BlackRock and T. Rowe Price at a valuation of $12 billion, said a person familiar with the matter. The...
Western Union buys 15% stake in Saudi Telecom’s subsidiary
Western Union, the world’s largest money transfer firm, has acquired a 15% stake in the digital payment unit of Saudi Arabia’s STC Group for $200 million. The acquisition of STC pay, which values the company at 5...
LVB-DBS merger may set precedent
The proposed merger of capital-starved Lakshmi Vilas Bank (LVB) with the local arm of Singapore’s DBS Bank may serve as a template for the Reserve Bank of India (RBI) to rescue other struggling banks. Allowing a foreign...
RIL-Future Retail deal gets CCI okay
The Competition Commission of India (CCI) on Friday approved Future Retail Ltd’s asset sale to Reliance Industries Ltd (RIL), in a setback for Amazon.com Inc., which had approached the anti-trust watchdog to halt...
Dull response to BPCL sale may derail divestment goal
Investors are not showing much interest in the sale of the government’s 53% stake in Bharat Petroleum Corp. Ltd (BPCL), which is expected to fetch the Centre around ₹45,000 crore. The privatization process could thus...
Bharti Infratel, Indus Towers merger complete; Vodafone Idea sells Indus stake for ₹3,760 cr
The merger of Bharti Infratel and Indus Towers to create a mega tower company has been completed, and Vodafone Idea has received ₹3,760.1 crore cash for its 11.15 per cent holding in Indus, a regulatory filing said on...
IL&FS subsidiary IFIN to sell external corporate loan book of ₹5,000 cr: Report
IL&FS Financial Services (IFIN), a wholly-owned subsidiary of IL&FS, is looking to sell its external corporate loan book worth close to ₹5,000 crore, people familiar with the matter said. The process, aimed at...
How Clix lost out to DBS in race for LVB
The capital-raising committee of Lakshmi Vilas Bank (LVB) was finalizing its recommendations to the bank’s board about an investment proposal from Clix Capital when the Reserve Bank of India (RBI) abruptly seized the...
