CMS Energy to build gas pipelines
Chennai: CMS Energy is planning to focus on gas-based power generation, and will establish a gas distribution chain in India. Singapore-based Brian Corbin, vice-president and managing director of CMS Energy Asia, said the company is entering gas distribution by setting up pipelines for power and fertiliser projects.

CMS Energy is a global player in the energy sector and operating in India since 1994. It is participating in a consortium called Dakshin Bharat Energy, which is building the $1.4 billion Ennore LNG terminal and 1,900MW power project near Chennai. The other partners in the consortium are the Aditya Birla group, Siemens, Woodside and Unocal.
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HTL stake divestment notified
Chennai: Management consulting firm KPMG India, which has been appointed by the government to advise on the partial disinvestment of HTL, has invited proposals from interested parties to pick up the 50 per cent stake in the Rs 360-crore company. It is expected that global telecommunication majors  Siemens, Alcatel and AT&T have evinced interest in HTL stake. Indian companies such as Videsh Sanchar Nigam Ltd, Mahanagar Telephone Nigam Ltd, Himachal Futuristic Communications, and the Aditya Vikram Birla group are also considered likely candidates for the stake.

HTL makes switches of all categories of exchanges, main distribution frames, transmission access and data communication products. It also has plans to become an Internet Service provider.
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Mannesmann rejects new offer
New York: Germany's Mannesmann has rejected Vodafone AirTouch’s sweetened bid of $128.5 billion in stock. This will pave the way for the largest hostile attempt by Britain’s cellphone company on the German telecommunications and engineering conglomerate.

Mannesmann’s workers also felt the latest offer from Vodafone does not reflect the true value of Mannesmann shares.
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Viacom offers MTV.com to shareholders
Chicago: Viacom plans to spin off MTV.com, its music website, to shareholders. Viacom chairman Sumner Redstone said the company will probably make an initial public offering in the first quarter of the new year.

MTV.com is the Internet companion of the popular cable music television channel MTV, which would, however, remain part of the entertainment and publishing company. Mr Redstone also said Viacom will also spin off the remainder of its video rental chain, Blockbuster, when its stock hits the $20 range.
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Hitachi to spend $3 bn in takeovers
Tokyo: Hitachi will spend $2.8 billion on alliances and takeovers as part of its expansion into the information technology industry. The company said in a statement that it wishes to transform itself from a manufacturer to a solutions provider. The company said it will invest in takeovers, capital tie-ups and alliances in IT-related businesses over the next three years .
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Boeing settles pay dispute
Seattle: Boeing Company will pay $4.5 billion to settle claims from female and minority employees that they were paid less than white male co-workers and will take steps to end such disparities. The company and the US labour department said they will set up a forum to air future pay grievances and track the progress of women and minorities in hiring and promotions.
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Mediator appointed in Microsoft case
Washington: Thomas Penfield Jackson, the judge in the Microsoft anti-trust case, has appointed a highly respected appeals court jurist to mediate the case. The judge also set a schedule for oral arguments to help him decide whether the company violated anti-trust law, in order to ensure that the case will go forward as scheduled.

The order to appoint a mediator came two weeks after Mr   Jackson found that Microsoft used monopoly power to harm consumers, competitors and other companies.
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Allen acquires ZDTV
New York: Paul Allen, co-founder of Microsoft Corporation, has acquired an additional 64 per cent stake in ZDTV, the cable channel devoted to computers and the Internet, from Ziff-Davis for $204.8 billion. The deal will raise Mr Allen’s stake in the company to 97 per cent.

Mr Allen is already building Charter Communications, the fourth largest cable company in the US. Control over ZDTV will give him a better hold on programming assets.
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