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15 January, 2019 10:22 AM Govt going ahead with merger of nationalised banks despite opposition from industry: CPI(M)

The CPI(M) on Tuesday said the government was going ahead with the merger process of three nationalised banks in haste, ignoring opposition from the entire industry. The Communist Party of India (Marxist) politburo, in a statement, said it was concerned over the "haste" in which it was being done. "The politburo is deeply concerned at the unseemly haste 145

14 January, 2019 9:20 AM Bharti Airtel in talks to buy Telkom Kenya: Sources

India's Bharti Airtel is in talks to buy Telkom Kenya, the East African nation's smallest telecoms operator, to create a stronger challenger to market leader Safaricom, three industry sources told Reuters on Monday. London-based Helios Investment, which owns a 60 percent stake in Telkom, is looking to partly cash out of the investment which it entered 155

12 January, 2019 1:17 PM IDFC Bank re-named IDFC First Bank

IDFC Bank and non-banking financial company Capital First had announced completion of their merger on December 18. Private sector lender IDFC Bank said its name has been changed to IDFC First Bank Ltd with effect from Saturday. "...the name of the Bank has been changed from IDFC Bank Ltd to 'IDFC First Bank Limited' with effect from January 12, 2019 by virtue 141

12 January, 2019 7:13 AM Global solar sector sees corporate funding, M&A activity worth $9.7 billion in 2018

The global solar sector witnessed a total corporate funding and merger and acquisitions activity worth USD 9.7 billion in 2018, a 24 percent drop compared to the year-ago period, according to a report. Mercom Capital Group said the total M&A and global corporate fundings, including venture capital (VC), debt financing and public market financing stood 145

8 January, 2019 5:04 AM Markets open in red despite positive global cues

New Delhi: Markets opened in red on Tuesday despite positive cues as banking sector was reeling under pressure post news of merger deal of Bandhan Bank and Gruh Finance, an arm of industry leader HDFC. Asian shares rose for the third straight session on Tuesday as investors bet that Washington and Beijing are inching towards a trade deal and that US Federal 180

8 January, 2019 4:17 AM Bandhan Bank, Gruh Finance fall 4-10% post merger deal

Shares of Bandhan Bank fell about 4 percent in morning trade on January 8, a day after its board approved a proposal to acquire housing finance firm Gruh Finance through a share swap deal. Gruh Finance was down by over 10 percent. Gruh Finance, promoted by the country's largest mortgage firm HDFC Ltd, is into the financing of affordable housing segment 134

8 January, 2019 3:37 AM BEST Employees' Strike Live Updates: 25 Lakh Commuters May Be Affected In Mumbai

Employees of Mumbai's civic transport operator BEST started an indefinite strike in the country's financial and entertainment hub today. At least 25 lakh passengers who take 3,000 BEST buses will be affected. The Maharashtra government may enforce the Essential Services Maintenance Act or ESMA on the employees who are on strike. The BEST management issued 172

3 January, 2019 6:26 AM Dena Bank, Vijaya Bank Shares Fall After Announcement Of Swap Ratios For Merger

Under the merger plan, Bank of Baroda said it would issue 110 shares of Rs 2 each for every 1,000 shares of Dena Bank worth Rs 10 each. Shares of state-run Dena Bank and Vijaya Bank plunged on Thursday after the Cabinet approved their merger with Bank of Baroda late on Wednesday, in an attempt to clean up the country's banking system. Under the merger 116

2 January, 2019 12:17 PM BoB finalises share swap ratio for merger of Vijaya Bank, Dena Bank

New Delhi: Bank of Baroda (BoB) Wednesday finalised the share swap ratio for merger of Vijaya Bank and Dena Bank with itself. As per the Scheme of Amalgamation, shareholders of Vijaya Bank will get 402 equity shares of BoB for every 1,000 shares held. In case of Dena Bank, its shareholders will get 110 shares for every 1,000 shares of BoB. The government 123

28 December, 2018 2:34 AM Top M&As of 2018: 7 multi-billion dollar deals sealed by India Inc

As India climbs higher on the Ease of Doing Business ranking, here are some of the M&As that commanded a substantial amount of money in 2018. Vodafone India and Idea Cellular merger | Two of India's top wireless carriers, completed the merger operations in the country to create an entity that will be equally owned by UK’s Vodafone Group and Indiaâ 72