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GM keen on stake in Maruti
New Delhi: General Motors is keen to pick up a stake in Maruti Udyog.
Such a deal will have to be made in conjunction with Suzuki Motor Corporation, partner for
both Maruti and General Motors, says General Motors’ global president and chief
operating officer Richard Wagoner.
Mr Wagoner has
been quoted by the Financial Express as saying that General Motors is keen on the
idea of having a stake in Maruti along with Suzuki if the government decides to sell its
stake.
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Opel Corsa launched
New Delhi: General Motors India launched its Opel Corsa in the India,
coinciding with the car's launch in two other continents, America and Africa. Richard
Wagoner, General Motors’ worldwide president and chief operating officer, presided
over the ceremony.
"The all-new Corsa represents a significant milestone
for our presence here. If we have to be successful as a global automotive player, we have
to be successful India," Mr Wagoner said on the occasion.
The Corsa is a three-box sedan, and will be initially
available in a petrol version. There will be one model with a 1.4-litre engine and another
with 1.6-litre engine. Both models will have multi-point fuel injection engines to meet
Euro II norms. The price of the vehicle will be announced during the Delhi Auto Expo in
January 2000.
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Best Buy, TCS in pact
Mumbai: Best Buy Company of the US has engaged Tata Consultancy Services
as a strategic business partner. Under the agreement, TCS will provide maintenance and
support for Best Buy’s legacy applications portfolio.
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Magic to hike stake in
Indian venture
Pune: Israeli software company Magic Software Enterprises is increasing
its stake in the Indian subsidiary NextStep Infotech to 51 per cent.
Magic Software sees bright prospects for its Indian
operations. The company’s vice president David Leichner says the Indian operations
will witness substantial growth in manpower and resources. The company is increasing its
manpower to 240 by 2000 from the present level of 40.
NextStep Infotech has developed a banking industry product
called Cheqmate, which handles all retail branch applications. It has modules for
portfolio management and the call money market.
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Britain to probe two deals
London: Britain said it will probe two major deals that advance
consolidation in the cable and pay-TV industries. The deals in question are French company
Vivendi’s acquisition of "material interest" in Rupert Murdoch’s BSkyB
and sale of Cable and Wireless Communications’ cable business to NTL. British trade
secretary Stephen Byers said he is referring the deals to the country's Competition
Commission.
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Pfizer mounts pressure
New York: Pfizer has stepped up its public efforts to pressure
Warner-Lambert into negotiating with it. The US drug major has written a letter to
Warner-Lambert’s chairman and chief executive officer Lodewijk JR de Vink, saying its
bid is superior to Warner-Lambert’s plan to merge with American Home Products in a
$71.3 billion deal. Pfizer has made an unsolicited $75 billion bid on Warner-Lambert.
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