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Indigo Nation
Industry: Fashion / garments
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Mallya Books 26% in Air Oeccan for 550 cr
THE king of good times, Vijay Mallya, appears to be interested in low-brow stuff as long as it makes business sense. He has struck a deal to pick up 26% in a preferential allotment by Air Deccan, which clearly gives him an opportunity to gain management control over the company that pioneered low-cost flying in the country.
The deal comes at a cost of Rs 550 crore (Rs 155 per share in the company) and will require him to make an open offer to pick up another20% stake.
Mr. Mallya's UB Holdings, which made
MTNL may win race for Lanka's Suntel
Beats Telekom Malaysia with $160- 180m Bid
STATE-owned Mahanagar Telephone Nigam Ltd (MTNL) is believed to have emerged as the highest bidder for Sri Lankan fixed line operator Suntel. According to sources dose to the development, MTNL is learnt to have bid between $ 160 million and $ 180 million for the Colombo-based telephone company.
The Sri Lankan Rs 3.31-billion Suntel will give MTNL a foothold in the island country's fast-growing telecom market. It will also be the first overseas acquisition by the NYSE-listed MTNL, which had earlier tried unsuccessfully to enter the Saudi Arabian and
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