Rajan Raheja group firm Prism Cement today said it has acquired the remaining 50 per cent stake in Milano Bathroom Fittings (MBF) for an undisclosed sum. “Post acquisition, MBF becomes a wholly-owned subsidiary of Prism Cement and will continue to be managed through H and R Johnson (India) division,” it said in a release. H&R Johnson (India), the tiles division of Prism Cement, had acquired a 50 per cent stake in MBF in 2006. MBF has a manufacturing plant at Baddi in Himachal Pradesh. The Baddi plant manufactures bathroom fittings and has a capacity of 3 lakh pieces per annum. […]

Reliance Communications Ltd’s subsidiary Reliance Infratel LTd, and GTL Infrastructure had in-principle approved a Rs 50,000-crore deal to create the world’s largest independent telecom infrastructure company, neither owned nor controlled by any telecom operator. The deal may be done but the dust is yet to settle. The clarity on the structure of the merged entity Reliance Infratel's tower assets into GTL infra is still awaited. However, sources indicate that GTL promoter stake in GTL Infra may go down to 26 per cent. As part of transaction, sources say treasury stock of 8 per cent to be also created, which can be reissued later. Sources further say that GTL Infra may get in a private equity investor post completion of the deal. Also, Anil Ambani is likely to hold approximately 26 per cent in GTL Infra, and part of Reliance Infratel debt may be transferred to GTL Infra. […]