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Et news(10 oct)

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Simmy Bansal
Simmy Bansal

Sebi’s investment cap on Temasek GSIC upsets Singapore govt. The Singapore government told India's ministry that Sebi's ruling limiting combined investment in Indian companies by Temasek Holdings and GIC to 15% violates the India-Singapore trade pact. Under Sebi rules, if their combined holding increases to 15%, they would have to make an open offer for an additional 20% of shares. British Telecom in talks to sell Tech Mahindra stake. British Telecom, an original promoter of Tech Mahindra, is looking to sell its over 43% stake now that Tech Mahindra has restated its financials. British Telecom is expecting a 30% premium over the current market

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Sebi’s investment cap on Temasek GSIC upsets Singapore govt City state says ruling limiting combined investment to 15% violates trade pact.
The Singapore foreign government has told India’s ministry that a ruling by the securities and exchange board of India restricting investments by the two of its overseas investment arms temsek holdings and the government of Singapore investment corporation to a combined 15% violates the comperhensive economic cooperation agreement signed by the two nations.In 2007, their bid raise their individual stakes in ICICI Bank to 10 % each was allowed despite resistance from RBI.Under SEBI’s takeover code guidelines, if the two entities in crease their combined holding to 15%, they would have to make an open offer for an additional 20%.
Barclays reinvests in intelent,picks 12.75%UK based Barclays bank plc has acquired a 12.75% equity stake in back office provider intelenet Global services.The intelenet was 50:50 joint venture between HDFC and barclays.The deal gave blackstone an 80% stake in the firm and the intelenet management 20%.Intelenet’s revenues are at around $240 million now campared to $90 millon .
The investment has been made through SKR BPO services,which is holding company of intelent.Barclays, even after exiting intelent as a stakeholder in 2007.They setting up its own captive.Barclays contribution has come down but it still is intelent’s top customer.
British Telecom in talks to sell Tech Mahindra stake Uk telecom major, British telecom,one of the original promoters of tech Mahindra.The restating of the financials of mahindrasatyam clears the way for a stake sale.BT was waiting for a clear picture to emerge on the financials before proceding with the sale process.
BT is said to be expecting a 30% premium over the current market price for its stake.It is already the single largest stakeholder with over 43% stake.

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Et news(10 oct)

  • 1. Sebi’s investment cap on Temasek GSIC upsets Singapore govt City state says ruling limiting combined investment to 15% violates trade pact.
  • 2. The Singapore foreign government has told India’s ministry that a ruling by the securities and exchange board of India restricting investments by the two of its overseas investment arms temsek holdings and the government of Singapore investment corporation to a combined 15% violates the comperhensive economic cooperation agreement signed by the two nations.In 2007, their bid raise their individual stakes in ICICI Bank to 10 % each was allowed despite resistance from RBI.Under SEBI’s takeover code guidelines, if the two entities in crease their combined holding to 15%, they would have to make an open offer for an additional 20%.
  • 3. Barclays reinvests in intelent,picks 12.75%UK based Barclays bank plc has acquired a 12.75% equity stake in back office provider intelenet Global services.The intelenet was 50:50 joint venture between HDFC and barclays.The deal gave blackstone an 80% stake in the firm and the intelenet management 20%.Intelenet’s revenues are at around $240 million now campared to $90 millon .
  • 4. The investment has been made through SKR BPO services,which is holding company of intelent.Barclays, even after exiting intelent as a stakeholder in 2007.They setting up its own captive.Barclays contribution has come down but it still is intelent’s top customer.
  • 5. British Telecom in talks to sell Tech Mahindra stake Uk telecom major, British telecom,one of the original promoters of tech Mahindra.The restating of the financials of mahindrasatyam clears the way for a stake sale.BT was waiting for a clear picture to emerge on the financials before proceding with the sale process.
  • 6. BT is said to be expecting a 30% premium over the current market price for its stake.It is already the single largest stakeholder with over 43% stake.