According to two independent sources in the know, GVK's lead underwriter, ICICI Bank, plans to reduce its exposure in the highly leveraged transaction. Following the move, the other PSU lenders have told GVK they, too, would like to proportionately bring down exposure.
This means the regulator can bring rates under regulation once again. Currently, the rates are determined by market forces.
Discussions have been initiated to sell the company to a Mumbai-headquartered, highly diversified, multi-billion dollar corporate group which has interests in retail and logistics, among various others.
According to two independent sources in the know, the group is exploring the possibility of tapping private equity investors for a significant minority stake in the company or may even exit the business, provided it gets a significant exit premium.
New policy to give greater flexibility to foreign players.
ITC operates only in the sugar confectionery arena, which limits its size of business.
Considers bidding for Barcelona, Madrid airports; may rope in local partner.
Emerging consensus is that all state capitals be covered.
The Department of Telecommunications (DoT) has proposed to simplify the country's telecom landscape. It has suggested one tariff for each licence holder across the country, all-India mobile number portability and doing away with roaming charges.
In what will be the largest media deal in India, Multi-Screen Media (MSM), which runs Sony Television in India, is set to buy Ramoji Rao-owned Eenadu TV's (ETV's) bouquet of 11 regional channels.
After eight years of joint operations in news television, the relationship between Rupert Murdoch-controlled STAR Group and Ananda Bazar Patrika (ABP) TV has run into rough weather.
Ashok Chand Burman, the 82-year-old patriarch of the family and chairman of fast moving consumer goods (FMCG) major Dabur Ltd, died on Saturday while on vacation in London, He was instrumental in fundamentally transforming a mid-rung ayurveda company firm into a FMCG major.
The long battle between ITC and its one-time trading partner, the Chitalias, has shifted to India. ITC has filed a suit in the Indian courts to recover assets it says the two brothers have in the country.
The company is looking to triple its FMCG turnover from Rs 5,000 crore (Rs 50 billion) to Rs 15,000 crore (Rs 150 billion) in the next five years.
The loans are backed by a government guarantee.
The government has till now injected Rs 2,000-crore (Rs 20-billion) fresh equity into the airline.
The average revenue per user (ARPU) of the country's four new GSM operators who got licences in 2008 - Uninor, S-Tel, Videocon and Etisalat DB - was between Rs 8.50 and Rs 39 in the January-March quarter.
Six metros in which FDI in multi-brand retailing will be permitted are Delhi, Mumbai, Kolkata, Chennai, Bangalore and Hyderabad.
Six months after the Paras deal, Actis wants to exit Sterling Hospitals, a Gujarat-based multi-speciality hospital chain with six centres, according to three independent sources in the know.
The department is planning a complete overhaul of the archaic Indian Telegraph Act.
