A day before the deadline of exclusive takeover talks between Anil Ambani's Reliance Communications and South African company MTN expires, Reliance Industries has invoked the dispute resolution clause of the non-competition agreement against RCom. However, RCom plans to go ahead with its proposed merger with MTN without taking RIL's claim into account.
The Kenyan government has dumped the Mumbai-based group in favour of a Libyan company for a 50 per cent stake in a refinery project in Mombasa. Essar officials said they are still negotiating with the Kenyan government so that they can invest in the project.
Swiss cement major, Holcim, promoter of two of India's biggest cement companies, ACC and Ambuja Cements, said there is no escape from increasing the cement prices in the country considering the high energy costs.
The Ruias of the Essar group have decided to get into yet another takeover battle. And this time they are taking on none other than Lakshmi Narayan Mittal, the owner of world's largest steel maker, ArcelorMittal, to take over the Bulgarian steel firm, Kremikovtzi AD, an ailing steel mill owned by Mittal's younger brother Pramod Mittal.
With the objective of increasing its presence in China, Indian software training company NIIT has signed a memorandum of understanding with Chinese real estate developer Shui On to set up training operations in at its upcoming Dalian Tiandi Software Hub. NIIT already has a presence in China with 172 locations in 65 cities with about 50,000 students graduating from NIIT centres in China every year.
The Aditya Birla group's wireless telephony firm Idea Cellular has agreed to buy Spice Communications in a three-stage deal in which minority shareholders of Spice would be given an option either to swap their shares for the Birla group firm or sell them in an open offer.
Telecom to Telekom Malaysia in an attempt to complete the merger, sources involved in the negotiations said, declining to be identified. The group has hired Enam Financial as adviser to the transaction. Investment banking sources said the lawyers from both the parties are now busy structuring the deal so that the acquisition meets all the regulatory norms of the country and the Birlas retain control over Idea Cellular.
Idea Cellular, the Aditya Birla group firm that is on the verge of taking over Spice Communications by buying out B K Modi's 41 per cent stake, is sounding out its bankers to raise funds to upgrade in the struggling telecom operator's network and technology.
Kolkata-based personal care products maker Emami, which made a hostile takeover bid for Zandu Pharmaceuticals, on Friday forced the latter to withdraw a plan to offer preferential shares to its promoters.Zandu had sent notice to the Bombay Stock Exchange late on Thursday evening saying its board would meet to discuss a preferential share issue to the promoters and directors.Emami lawyers swung into action and sent legal notice early on Friday to Zandu's board.
Tata Tea, which sold its stake in US-based Glaceau last year, plans to begin selling a low-priced bottled water in the country through its unit Mount Everest Mineral Water, to take on global rivals such as Coca-Cola and PepsiCo in the Rs 1,500-crore packaged drinking water market."We want to do it quickly,'' Pradeep Poddar, managing director and CEO, Mount Everest, said. "The market is still very young and we can evolve it further through marketing new offerings."
Vijay Mallya has ensured that his brands do not fall out of Indian Premier League (IPL) viewership, though his team Royal Challengers Bangalore bowed out of the tournament. After RC's series of defeats, the UB Group chairman decided to cash in on his smaller investments in rival teams such as Rajasthan Royals, Delhi Daredevils, Chennai Superkings and Mumbai Indians.
India's advertising industry is facing a serious manpower shortage, especially on the creative side of the business. Pressure on agencies' earnings has affected salary hikes, creating an opportunity for the burgeoning entertainment sector (TV and films) to poach on the limited talent pool. The shortage is mostly among the junior and mid-level executives. In advertising, money for creative people does not start flowing in till they are two to three years into the profession.
Prasoon Joshi, executive chairman, McCann-Erickson India, who will chair the outdoor and ambient media jury at the 55th International Cannes Lions 2008 in France to be held next month, talks to Business Standard about the performance of the Indian advertising industry at Cannes and his vision for McCann India.
Cellphone advertising is witnessing the first few signs of how it has the potential to become big in the near future. Hindustan Unilever and Coca-Cola, two of the biggest advertisers in the country belonging to the fast moving consumer goods sector, have launched campaigns this month to tap mobile users.
"If Bisleri does not receive this compensation, we will take legal action against Coca-Cola for violating the contract and the Trade Related Aspects of Intellectual Property Rights agreement," Chauhan, chairman and managing director of Bisleri, India's leader in packaged-drinking water and creator of the Maaza brand, told Business Standard.
Bisleri, India's largest packaged-water player, said it would contemplate legal action against Coca-Cola India if the latter did not agree to its objection over the registration of the Mazaa trademark in other countries. Bisleri, however, insists that Coca-Cola has applied for registration of the Mazaa trademark in countries where the brand is not present and has objected to it on grounds that it is a breach of agreement under which Coca-Cola had acquired the rights of Mazaa.
The rise in raw material costs has caused a 10 per cent increase in the retail prices of fast-moving consumer goods as companies are passing on the rise in costs.
This is as definitive as it can get. Dutch global beer major Heineken is understood to have outlined its intent to Vijay Mallya's United Breweries that it does not want to have any conflicting presence in India.
Danish beer giant Carlsberg is all set to commence production from its 2 greenfield breweries - one each in Aurangabad & Kolkata. Carlsberg together with beer major Heineken is part of the $11 bn global takeover of British brewer Scottish & Newcastle, which has 37.49% stake in Mallya's United Breweries. Heineken is also planning to launch its flagship beer brand Heineken in association with Asia Pacific Breweries. Total beer market in India is valued at 8 million hectolitres.
Jon Wilkins, founding partner of Naked Communications, which gives communication consultancy to some of the world's biggest companies such as Coca-Cola, Nestle and Nokia, is looking for people to set shop in India. Initially, he wants to work with only three people here, who have an entrepreneurial spirit & an understanding for brand strategy. He is attracted to India for 3 reasons - India is ready for change, ad market here is growing rapidly and new channels are opening up.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances