The Essar group-owned company's agreement with the Bangalore-based BPL group, which owns the brand through its flagship firm, had expired on March this year.
Hutchison Telecom on Sunday said talks were on with various suitors for sale of its holding in joint venture Hutch-Essar in India and that there was no time-frame for a decision.
The newly-formed entity which will list on the NYSE as Eros STX Entertainment Corp, will remain listed on the New York Stock Exchange, with headquarters in both Mumbai, India, and Burbank, California, and has also got $125 million in fresh funding. The merger will not change the structure of Eros's Indian arm which is also listed on Indian stock exchanges.
The Essar group-owned BPL Mobile is believed to be seeking an extension to use the 'BPL' brand name that is owned by Bangalore-based industrialist TPG Nambiar
BPL Mobile, one of Mumbai's oldest cellular phone operator, is looking at dropping its existing brand name as Essar's agreement with the TPG Nambiar-owned BPL on the use of its trademark expires by March-end.
Record equity divestment by the Reliance Group in its telecom and retail businesses garnering around $23 billion revved up the deal street in 2020, which otherwise would have gone down as one of the dullest on record, and dealmakers are seeing sunnier days in 2021 given the large scope for consolidation in a slew of sectors ravaged by the pandemic. With Jio Platforms alone garnering over $16 billion (Rs 1,18,318 crore) by selling 25.24 per cent stake and Reliance Retail notching up $6.4 billion (Rs 47,265 crore) by divesting around 9 per cent shareholding, the deal street signed off with $85 billion in the deal kitty across 1,270 transactions. This is higher by about 10 per cent over 2019. What is significant is that over a third of the total deal value came from Reliance transactions, say investment bankers.
Essar group now holds 77% stake in BPL Communications.
To start with, TPG has signed an MoU with Chhattisgarh government for a 1,600 Mw coal-fired plant in the state at an investment of about Rs 6,000 crore.
"The central government had rescued other businesses by re-structuring debts to the tune of Rs 30,000-40,000 crore. Compared to this, the amount (debt) of Jet Airways was much smaller. Moreover there was a resolution (accepted) by the lenders to save jobs and to save the airline," Sharma said.
Banks want government to retain 40 per cent of Jet slots at all airports to ensure a new owner can kick-start operations soon after taking over.
The telecom industry is moving towards a five-plus one model.
Brian Tempest is among the four directors of cash-strapped healthcare chain whose removals were sought by two institutional investors. Three directors -- Harpal Singh, Sabina Vaisoha and Tejinder Singh Shergill -- had already resigned before the EGM.
With over 45 healthcare facilities and over 300 vibrant diagnostic centres, Fortis is India's second-largest hospital chain -- next only to Apollo, which has 64 hospitals with 10,000 beds. Therefore, any international or domestic hospital chain that buys Fortis will simply catapult to the numero uno position.
People move from investment banking to growth equity or from venture capital to growth equity or entrepreneurship, depending on what's attractive at different points of life.
On Wednesday, Daiichi Sankyo's lawyers argued for a stay on stake sale by Fortis, which was opposed by counsels of the hospital chain and promoter entities.
Rajan's last day at Tata Sons, where he has worked since the 1990s, will be March 31.
It currently has invested in 35 locations, some of which border on a luxury level format and are large at 2,500 square feet.
Bain alleges that it invested around $60 mn based on false financial statements that EY had audited and certified
The April 2 Supreme Court order quashing the February 12, 2018 RBI circular (which ended all debt recast plans even on a one-day default) put paid to the resolution plan as banks were left with no leeway to restructure the loan and pay the promised Rs 1,500 crore interim funds.
The money is expected to be disbursed by the lenders consortium led by SBI after the Jet management submits an operational plan on how it intends to use the money till May 7.
Reliance Communications could become a much more formidable opponent.
Private Equity investment in Q1, 2015 witnessed a year- on-year jump of 30 per cent to $2.6 billion.
JSW Steel is learnt to have submitted its resolution plan along with AION Capital
Grant Thornton reports says total value of deals in 2013 crosses $8 bn, up 34% from the year-ago period, momentum likely to continue
Is yet to decide about the partnership or acquisition route
After due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a conditional bid was received.
Their offer values Fortis at over Rs 9,000 crore, or around Rs 172 per share.
The eyewear market in India is worth $3 billion.
With Indian infrastructure companies burdened with debt, global PE funds and developers sense an opportunity to buy the airports cheap
Mukesh Ambani's Jio, high debt and some bad decisions drove RCom to its grave.
Those involved in the discussions say the guidelines for selection of bidders in insolvency cases need to be transparent, otherwise anyone who loses out could take legal recourse, leading to wastage of time and derailing the whole process.
Buying Yahoo's assets would expand DailyMail.com's reach and improve its digital ad rev
Brutally cold conditions in Pyeongchang are warping skis and forcing some athletes to toss them out after training runs, an Alpine skiing course worker told Reuters on Wednesday.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances