| Log in

News Roundup: Sony Television May Buy ETV For $600M

15 July, 2011

Sony Television May Buy ETV For $600M – 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. The deal size is expected to be close to $500-600 million (Rs 2,250-2,400 crore), eclipsing transactions such as Disney’s strategic investments in UTV, Turner’s buyout of NDTV Imagine from New Delhi Television and Viacom teaming up with Network18, which runs India’s version of CNBC. (Business Standard)

Bharti Airtel To List Hexacom – Bharti Airtel, the country’s largest telco by customers and revenues, has offered to list its subsidiary, which offers mobile services in six northeastern states (excluding Assam) and Rajasthan, to provide an exit option for its minority JV partner, Telecom Consultants of India Ltd (TCIL). The telco offers mobile services in seven regions in the country through Bharti Hexacom in which Telecom Consultants of India Ltd (TCIL) has a 30% stake. Hexacom had a turnover of over Rs 1,700 crore and profits of over Rs 400 crore in 2010. (Economic Times)

Fairfax Eyes India Investments – Fairfax Financial Holdings Ltd, a $30 billion (Rs.1.3 trillion)-plus diversified financial services company that owns stakes in Kraft Foods Inc. and Dell Inc., is entering India to invest in listed and unlisted Indian companies. It will buy both minority as well as controlling stakes. Fairfax has appointed Harsha Raghavan, former India head of private equity firm Candover Investments Plc, as head of the unit and investments in Indian companies will be made through Fairbridge Capital Pvt. Ltd.

GVK May Not Get Siemens’ BIAL Stake – Hyderabad-based power and infrastructure company GVK’s plan to run the Bangalore International Airport Ltd (BIAL) as the single largest shareholder has hit hurdles. Its current majority stakeholder, German firm Siemens, is looking for other buyers after a disagreement over valuation with GVK. Siemens has appointed merchant banker Edelweiss to find buyers for a 14% stake that it could offload. (Economic Times)

Granules Forms $20M JV – Pharmaceutical company Granules India is setting up a bulk drugs and intermediaries manufacturing facility in Visakhapatnam with an investment of $20 million (around Rs 90 crore) in joint venture with Belgian pharmaceutical firm Ajinomoto OmniChem. The JV, equally owned by the two companies, is targeted to offer high-value active pharmaceutical ingredients (APIs) and intermediaries to pharmaceutical players. (Business Standard)

GTL Readies For Debt Restructuring – Cash-strapped telecom infrastructure company, GTL Limited is likely to head for corporate debt restructuring (CDR) forum to rework its debt payment obligations. The proposed restructuring is likely to see an equity infusion of Rs 2,000 crore. (Business Standard)

Cranes Software Under Wining Up Petition – Bank of New York Mellon (BNYM) initiated winding-up proceedings against Cranes Software last month on behalf of select institutional investors.

Barclays Bank, one of the largest FCCB holders, is believed to have backed the move. This is the first time an underwriter or coordinator for an FCCB issue is initiating a winding-up petition against an Indian issuer. (Economic Times)

Spandana Appoints Former Citi Banker As CEO – Former Citigroup Managing Director Sandeep Soni today took over as the Chief Executive Officer of Spandana Sphoorty Financial Ltd, a Hyderabad-based microfinance company. Soni has worked extensively in consumer centric segments, having managed products ranging from credit cards, mortgages, insurance to international FMCG brands. (PTI)


Leave Your Comment
TCIL Stake Sale In Hexacom Gets DoT Nod; Bharti May Pick Up The Stake

TCIL Stake Sale In Hexacom Gets DoT Nod; Bharti May Pick Up The Stake

Shrija Agrawal 9 years ago
Finally, The Department of Telecom has given its approval to divest the 30%...
Will Bharti Airtel Buy Remaining Stake In Hexacom?

Will Bharti Airtel Buy Remaining Stake In Hexacom?

Pallavi S 7 years ago
Will the country’s largest telecom operator, Bharti Airtel, exercise its right...
Bharti Dials Bangladesh; Picks 70% In Warid Telecom

Bharti Dials Bangladesh; Picks 70% In Warid Telecom

Madhav A Chanchani 8 years ago
–Bharti will take management and board control in Warid Telecom,...
No Comments

News Roundup: Sony Television May Buy ETV For $600M

Powered by WordPress.com VIP