MUMBAI - UK-based Vedanta Group today said it has received market regulator Sebi's nod for a USD 9.6 billion deal to acquire a 51 per cent stake in Cairn India and will launch an open offer soon.
"We have already received Sebi's approval for an open offer. The issue will open very soon. Within the next one to two days, we will send out the mails regarding this to all concerned," Vedanta Group Chairman Anil Agarwal told reporters here.
The Vedanta chief also appeared confident that the deal to acquire a majority stake in Cairn India, promoted by Edinburgh-based Cairn Energy Plc, would soon receive the approval of the government.
"We have a deadline of April 15 and I believe the government will give its approval before that... The royalty issue has to sorted out with the government and the ONGC. We can... take up that issue later," he said.
The deal, which has been hanging fire since November, 2010, is likely to be considered for final approval by the Union Cabinet at its meeting in the national capital tomorrow.
As per the Takeover Code of the Securities and Exchange Board of India (SEBI), the acquirer is required to come out with an open offer to give an exit option to existing shareholders.
Source : http://www.newzfirst.com/web/guest/business
Tuesday, April 5, 2011
Hazare begins fast against corruption
NEW DELHI - Anti-corruption crusader Anna Hazare today began his fast unto death demanding enactment of a comprehensive law like the Jan Lokpal Bill to tackle corruption.
72-year-old Hazare began his fast at Jantar Mantar after taking out a march from Rajghat where he paid tributes to Mahatma Gandhi.
"We will fast unto death until the government enacts the Jan Lokpal Bill which is most necessary to fight corruption in our country," Hazare told reporters here.
Activists Swami Agnivesh, Kiran Bedi and Sandeep Pandey were also present.
Hazare had yesterday said that he was saddened when Prime Minister Manmohan Singh rejected the demand by leading civil society members to include them and senior ministers in the joint committee to draft the Jan Lokpal Bill (Citizen's ombudsman Bill).
72-year-old Hazare began his fast at Jantar Mantar after taking out a march from Rajghat where he paid tributes to Mahatma Gandhi.
"We will fast unto death until the government enacts the Jan Lokpal Bill which is most necessary to fight corruption in our country," Hazare told reporters here.
Activists Swami Agnivesh, Kiran Bedi and Sandeep Pandey were also present.
Hazare had yesterday said that he was saddened when Prime Minister Manmohan Singh rejected the demand by leading civil society members to include them and senior ministers in the joint committee to draft the Jan Lokpal Bill (Citizen's ombudsman Bill).
Monday, February 21, 2011
How Business News Is Advantageous
It's all about news that dominates today's life. Business is almost at a standstill and the cycle of lost profits and the devastation that had there been no new market businessmen and investors update. The best way now to upgrade to what is happening in the market is visiting a business news portal.
Just one click will take you to the pages of his new subjects of interest, including politics, entertainment, and endless questions. One advantage to the surf market business news online is that you can read at their convenience, regardless of their location. From a remote location in the United States, you can connect instantly to new companies looking to India or any other nation. Online business news portals, and have, in some way, the streamlining of business more than ever.
You do not need to visit several sites every other day for information about new company in India. There are a number of news portals, as well as newspapers and television news are driving online portals. And 'once more news portals, calculated as a few that are sources of many other news portals. In fact, the stock market is the most widespread of these platforms and other platforms within minutes or hours. So once you've found the best news portal, you can visit every day to collect the latest information on market conditions. You can also subscribe to a platform and have easy access to the latest news and events, if you subscribe, you can even receive updates directly in your mailbox!
Read newspapers or watch television to get an overview of the new stock market may not be to your satisfaction. Perhaps the media would not print information from the minute the stock market. It may even lack of detailed information.
A TV show can not be comfortable, as the news you are looking for may have been already released, or you can wait a bit for the new stock market itself, which must Teleca place. But with a news portal, it is quite different. All you have to do is visit the page and read the various new markets for your interest and read them.
Your investment in the stock market will prove profitable if you stay updated about the market. Get updated and grab the gains!http://hubpages.com/hub/Online-News-That-Makes-Me-Young-At-Heart?done
Just one click will take you to the pages of his new subjects of interest, including politics, entertainment, and endless questions. One advantage to the surf market business news online is that you can read at their convenience, regardless of their location. From a remote location in the United States, you can connect instantly to new companies looking to India or any other nation. Online business news portals, and have, in some way, the streamlining of business more than ever.
You do not need to visit several sites every other day for information about new company in India. There are a number of news portals, as well as newspapers and television news are driving online portals. And 'once more news portals, calculated as a few that are sources of many other news portals. In fact, the stock market is the most widespread of these platforms and other platforms within minutes or hours. So once you've found the best news portal, you can visit every day to collect the latest information on market conditions. You can also subscribe to a platform and have easy access to the latest news and events, if you subscribe, you can even receive updates directly in your mailbox!
Read newspapers or watch television to get an overview of the new stock market may not be to your satisfaction. Perhaps the media would not print information from the minute the stock market. It may even lack of detailed information.
A TV show can not be comfortable, as the news you are looking for may have been already released, or you can wait a bit for the new stock market itself, which must Teleca place. But with a news portal, it is quite different. All you have to do is visit the page and read the various new markets for your interest and read them.
Your investment in the stock market will prove profitable if you stay updated about the market. Get updated and grab the gains!http://hubpages.com/hub/Online-News-That-Makes-Me-Young-At-Heart?done
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