Thursday, September 3, 1998
VSNL to pick up 10% stake in Agrani project
The state-owned Videsh Sanchar Nigam (VSNL) is close to picking up an estimated 10% stake in the Essel group-promoted $1-billion Agrani project. VSNL is reportedly bracing itself for approvals from its board and the government to invest in the equity of the satellite-based global mobile personal communications system (GMPCS) venture.
P&G India renamed to reflect health care, hygiene ranges
Procter & Gamble India is changing its name to Procter & Gamble Hygiene and Health Care to reflect the company's identification with its core business categories of feminine hygiene and health care, even as it continues to earn a third of its turnover through manufacturing of cosmetics and toiletries as well as laundry and soaps products.
Kintetic's Arun Firodia allays fears on payout burden
It is touted as the first-ever buyout of a foreign ally's stake by a domestic minority partner. Kinetic Engineering, the Pune-based two-wheeler manufacturer, set rumour mills at rest when it announced its plans to buy out Honda Motor's 50.92% stake in the 13-year-old joint venture, Kinetic Honda Motor.
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