Videocon may sell stake in DTH unit
Videocon Industries Ltd is looking to sell a 25% stake in its direct to home (DTH) broadcast services business for around $75100 million and is in talks with private equity firms, people with direct knowledge of the matter said.
Potential investors in the unit, brand ed D2H, include ICICI Venture, the private equity arm of No. 2 Indian lender ICICI Bank Ltd, those people said. Videocon has hired UBS to find an investor, sources said.
Indian economy has become resilient
Finance minister Pranab Mukherjee on Friday said the recent economic crisis has shown that the Indian economy has become “remarkably resilient“ to both external and domestic shocks.
“Indian economy managed to moder ate the decline in GDP growth during the global economic downturn precipitated by the financial crisis in the developed world and then recovered rapidly in 201011. It also took the monsoon failures in the preceding two years in its stride and is keeping up its growth momentum going despite significant uncertainties emanating from the eurozone and weak global investment sentiments,“ Mukherjee said at the India Today chief ministers conclave Mukherjee also said it was not possible to promote inclusive growth without addressing corruption and governance issues.
(Source-: mintlive.com)
