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Reliance Communicationsmay sell 26% stake in tower unit to American Tower for Rs 9,100 crore, reports NW18. According to Newswire 18, Reliance Communications plans to sell an additional 26% stake in its telecom tower business unit- Reliance Telecom Infrastructure.
It added that the US-based American Tower's Chairman, James Taiclet, who is currently touring India, is likely to meet Anil Ambani about the stake […] GE India on Monday picked up 15% equity in Titagarh Wagons Ltd, marking the entry of group firm GE Equipment Services into the country. Under a strategic tie-up with Titagarh Wagons, GE Equipment Services will have preferred access to wagons manufactured by the West Bengal-based company. GE will lease the wagons to the Indian Railways and private shippers in India. GE Equipment Services will also become the preferred provider of vendor financing for Titagarh. With GE’s investment, Titagarh plans to step up the pace of manufacturing wagons. Titagarh, which manufactured 2,232 wagons during 2006-07, plans to raise its annual manufacturing capacity to 3,600-4,000 wagons after the tie-up. […] Private equity investors Lehman Brothers , Warburg Pincus and Carlyle Group are in talks with Mumbai brokerage Angel Broking to buy a 20 percent stake, the Economic Times said on Tuesday. Angel aims to raise about 2 billion rupees ($50 million) from the stake sale, which would value the stocks brokerage at about 10 billion rupees, the newspaper said, quoting unnamed sources. Other investors are also in the fray, the paper said, and it quoted Angel Chairman and Managing Director Dinesh Thakkar as saying it had short-listed a dozen suitors and would shortly invite bids from them. […] |