Intel plans Net data centre
Mumbai: Intel Corporation is all set to open an Internet data centre in India. This will be close on the heels of the microprocessor major’s recent foray into information technology services after it constituted a separate company, Intel Online Services, and launched its first Internet data centre at Santa Clara in the US. Intel officials in India said the centre may come up in about 12 months.

An Internet data centre is often referred to as a "server farm" and provides an entire spectrum of facilities for hosting services.
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Munjals decline Honda stake offer
New Delhi: The Munjals of the Hero group has declined an offer of equity from Honda Motor Company in its proposed wholly-owned subsidiary, Honda Motorcycle & Scooter India. Brij Mohan Lal Munjal, head of the Munjal family, confirmed the offer and said the family does not want the equity. The family wants to devote its entire attention and resources to Hero Honda, in which it has a 26 per cent stake. Honda Motor Company also holds an equal stake in the joint venture.
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Coca-Cola India to shed flab
New Delhi: Coca-Cola India is shedding its flab. It plans to cut down its manpower by 11 per cent and has earmarked Rs 9 core for the purpose in the current financial year. This amount will be for the first phase of a voluntary retirement scheme and the second phase will be in the next financial year. The manpower reduction is part of the company’s overall restructuring of operations.

Coca-Cola India has already bought out its bottlers, at a cost of over Rs. 1,500 crore, to set up an integrated bottling system in India.
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Shareholders to get Apollo Tyres warrants
Mumbai: Apollo Tyres has decided to allot 12,38,000 unsubscribed warrants to its existing shareholders. The share has been priced at Rs 100, meaning a discount of 39 per cent on the current market price of Rs 163.40. All the existing shareholders will be entitled to the shares, which will be allotted at a ratio to be determined soon. The company’s board of directors has set up a committee for the purpose. Normally companies allot unsubscribed portion of equity to promoters.

Apollo Tyres had made a rights issue of 69,69,838 secured, non-convertible debentures in January 1995, with one warrant attached with each debenture. The last date for conversion of warrants into equity shares expired on 31 August 1999.
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Merloni's  new ACs to be made in Pune
Pune: Merloni TermoSanitari India, part of the Merloni group of Italy, will launch a new range of air-conditioners of up to three-tonne capacity in the Indian market. The air-conditioners will be made at the company’s facility at Chakan near Pune. At present, the Indian company makes water-heating systems under brand names Racold and Aritson.
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Sail advised to cut input costs
Calcutta: McKinsey & Co, advising Steel Authority of India on its turnaround plans, has told the steel major to concentrate more on arresting its input costs than on its efforts to increase the net sales realisation. The consultants have told the company that all its plants should benchmark the least cost of purchase achieved for inputs in any one plant under a concept of  "Total Cost Ownership". The consultants are of the opinion that in the market-driven steel price regime, it will be difficult to have any substantial increase in net sales realisation. Instead, Sail should concentrate on key account management, which will take care of key customers.
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Subhash Chandra to sell stake in Siti
Mumbai: Subhash Chandra of Zee Telefilms is selling 25 per cent stake in Siti Cable for nearly $150 million to an insurance and investment banker. The identity of the purchaser has not been disclosed.

The Business Standard in a report said the buyer is one among the top five insurance and investment bankers in the world and has offered to pick up the stake in Siti Cable. Cable companies attract high prices in the light of their potential to provide infotech-related services through their network. Siti Cable has been valued by the proposed investor at over $800 million.
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DLF Cements told to seek nod from IDBI
Mumbai: The Debt Recovery Tribunal at Jaipur has directed the promoters of DLF Cements to obtain prior permission of the Industrial Development Bank of India for sale of any company assets or change in the company’s management. IDBI has filed a case against the promoters of the company for recovery of dues amounting to Rs 20 crore.
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MTNL’s GDR issue deferred
New Delhi: The government has decided to defer the global depository receipt issue of Mahanagar Telephone Nigam Ltd till January 2000. It had planned to divest 19 million shares, constituting three per cent of MTNL’s equity, in the international market.

The government’s move comes in the wake of a reported offer by a Europe-based telecommunications company to pick up MTNL shares at Rs 250 to Rs 300 per share. The company wants to have a strategic partnership with MTNL in telecom projects in India. MTNL’s shares are now quoted at around Rs 215.
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RMC Group plans to acquire Rugby
London: Britain’s RMC Group, which makes aggregates and concrete, has made an offer to buy the country’s cement producer, Rugby Group, for $1.45 billion. The takeover offer will be the first merger to vertically integrate a British aggregate and concrete producer with a cement maker on a large scale. RMC plans to finance the deal through loans arranged to mature on different dates.
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Microsoft, justice department talk
Washington: Microsoft Corporation has initiated talks with the US justice department for a settlement of the anti-trust case. However, the talks are understood to he not very successful, as the federal judge’s ruling that Microsoft had used monopoly power to hurt consumers is not a thing to be easily sidestepped. The next phase of the discussions will be to find out whether Microsoft has any liability. If so, the court will decide how to remedy the situation – which could include a possible   break-up of the company.
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AHP, Warner-Lambert to promote merger plan
New York: American Home Products and Warner-Lambert Company are planning to talk to analysts and investors on the merits of their proposed  $70 billion merger. The friendly blockbuster merger is threatened by a hostile takeover bid on Warner-Lambert by  the No 2 US drug company, Pfizer, which  has offered to buy Warner-Lambert at $73 billion. Warner-Lambert’s new cholesterol-fighting drug Lipitor, projected as a significant money-spinner,  is the attracting factor.

The merger is important for AHP as it had two futile attempts earlier. Its planned merger with Monsanto and later with British company SmithKline Beecham had fallen  apart duty to power-sharing conflicts between senior management staff.
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Think from Ford
London: Ford Motors plans to  launch  "Think", a small electric car, in Europe. Ford chief executive Jacques Nasser is expected to reveal the plans to sell the two-seater vehicle initially in Scandinavia followed by other West European countries.
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Fiat hopes to return to black
London: Fiat Auto is predicting that it will return to profit in 1999-2000 after accumulating losses of almost $ 500 million over the past 15 months. It hopes to improve its performance with the launch of new models in Europe and restructuring of its Brazilian operations. Fiat has secured some 2,20,000 orders for its new Punto model
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RealNetworks to re-launch site as AV portal
Seattle: RealNetworks is re-launching its website as a hub for audio and video content with special hooks for a new version of its software. The Real.com Network will feature a daily menu of news and entertainment content accessible only through its RealPlyaer 7, a software for playing audio and video over the Internet.

RealNetworks propose to offer a daily menu called Real.com Take 5, which will be selected by a team of editors from audio and video fares offered by more than 100 media companies, including ABC News and BBC.
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