Merger talks between Tata Teleservices and Russia's Sistema have advanced substantially, with negotiations centered on a deal that transfers NTT DoCoMo's stake as well as part of the Tata Group's holding to Sistema, giving it a substantial shareholding. The two companies have appointed bankers Rothschild for Sistema, which operates under the MTS brand, and Standard Chartered Bank for the Tata Group. Japan's NTT DoCoMo had bought 26% stake in Tata Teleservices in November 2008 for around 13,000 crore, valuing the company at over Rs 50,000 crore (over $8 billion).
The board of Tata Consultancy Services (TCS) in its meeting on 18 October 2012 has approved the composite scheme of arrangement between TCS, TCS e-Serve (e-Serve) and TCS e-Serve International (TEIL). The composite scheme of arrangement provides for merger of e-Serve into TCS and demerger of TEIL's special economic zone (SEZ) undertaking(s) to TCS. The appointed date proposed for this scheme is 01 April 2013. TCS holds 96.26% of the paid up equity share capital of e-Serve. TEIL is a wholly owned subsidiary of e-Serve. As per the terms of the scheme of arrangement, shareholders of e-Serve (other than TCS) will receive 13 equity shares of Re 1 each of TCS for every 4 equity shares of Rs 10 each of e-Serve held by them. The board has approved the scheme of merger of Computational Research Laboratories (CRL) and Retail FullServe (RFL) with TCS. The proposed appointed date for the merger of CRL is 01 October 2012 and for the merger of RFL is 01 April 2012. Computational Res
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