February 2010
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Indian Govt ready to Help Bharti Airtel in Zain Deal

The Indian government will help Bharti Airtel Ltd. in its bid to buy most of the African assets of Kuwait's Mobile Telecommunications Co., or Zain, if the Indian mobile-phone operator seeks any assistance, the federal corporate affairs minister said Wednesday. Bharti Airtel, India's largest mobile-phone company by subscribers, though hasn't approached the corporate affairs ministry for any help, Salman Khurshid told reporters on the sidelines of an industry conference. He also said that there aren't any apparent policy issues in the Bharti-Zain Deal as of now. [...]

Temasek Holdings Reduces Stake in India’s ICICI Bank to 5.9%

Temasek Holdings Pte, Singapore’s state investment firm, reduced its stake in ICICI Bank Ltd. to 5.9 percent as of Sept. 29, according to a filing with the U.S. Securities and Exchange Commission. Temasek’s holding in ICICI, India’s second-largest bank, fell from 8.3 percent a year earlier, according to the Feb. 12 filing. [...]

Abbott makes open offer for 20 pc in Solvay Pharma India

US-based pharmaceutical firm Abbott Laboratories on Wednesday announced completing the acquisition of the global drug business of Solvay SA, consequent to which it has made an offer to acquire 20 per cent of Solvay's India business. Abbott Capital India and Abbott Laboratories have made an open offer to acquire 10.09 lakh shares of Solvay Pharma India at Rs 3,054.73 per share, Solvay Pharma India said in a filing to the Bombay Stock Exchange. The offer would aggregate an outgo of Rs 308 crore. It will open on April 7 and close on April 26. DSP Merrill Lynch Ltd is the banker to the offer. [...]