|
Kerry Packer buys 10% of Himachal
Futuristic
New Delhi: Australian media tycoon Kerry Packer’s Consolidated Press Holdings Ltd
is buying 10 per cent of the equity of Himachal Futuristic Communications Ltd for $238
million. The Indian company, promoted by the Nahata and Maloo families and associates,
will issue fresh shares to Consolidated Press at Rs 1,450 each. The Australian investment
will reduce the holding of HFCL’s promoters to 40 per cent.
Simultaneously Consolidated Press Holdings and HFCL are creating two joint ventures for
software products and services, and for business-to-business e-commerce. The Indian
company will own 51 per cent of both ventures and Consolidated Press Holdings 30 per cent,
with the remaining equity to be offered to strategic investors, not yet identified. Each
of these ventures will have an equity of about Rs 100 crore.
Back to News Review
index page
Wipro launches
Kannada printers
Bangalore: Wipro Infotech has launched dot matrix printers and line printers that can
print Kannada fonts. The dot matrix printers are priced at Rs 20,000 plus, and the line
printers at Rs 1.90 lakh plus.
The dot matrix
printer can print in eight languages -- Kannada, Telugu, Malayalam, Gujarati, Tamil,
Marathi, Hindi, and English – and can print three languages at a time. They have
Hindi and English built in, and a third language can be down loaded in to the printer.
Back to News
Review index page
Infosys tie-up
with Cephren
Bangalore: Infosys Technologies has tied up with Cephren of the US for e-commerce
services for the global construction industry. The alliances will work in four areas --
product development, quality assurance and maintenance, systems integration and
professional services.
Back to News Review
index page
IDBI
winding-up notice on ABG
Mumbai: The Industrial Development Bank of India has issued a winding-up notice to the
Mumbai-based ABG Heavy Industries Ltd following the company’s Rs 22-crore default in
loan repayments. The action is part of the IDBI's effort to reduce its non-performing
assets.
Back to News Review
index page
Global Tele
selling GECS
Mumbai: Global Tele-Systems Ltd will dispose of its entire stake in Global E-Commerce
Services for around Rs 500 crore at Rs 350-400 per share. Global Tele owns about 11.74 per
cent of the equity of GECS. It had recently sold 1.26 per cent of the equity to Morgan
Stanley Fund for Rs 50 crore at Rs 250 per share.
GECS Holdings Ltd and Singapore-based Technology Resources Ltd own 43 per cent each of
GECS, and relatives of the Global group promoters hold 3 per cent.
Back to News Review
index page
Hindustan Lever
may introduce more deodorants
Mumbai: Personal care products maker Hindustan Lever Ltd is considering launching more
deodorant brands, including Brut, Impulse, and a deodorant version of Dove in India. The
company has found a very good response to its Axe Effect deodorant.
The Axe brand is imported and sold in India.
Back to News Review
index page
VeriSign
buying Network Solutions for $21 billion
Mountain View, California: Internet security firm VeriSign Inc is acquiring Network
Solutions Inc, the leading Internet domain name registrar, in a stock deal worth $21
billion.
Until recently Network Solutions has had a monopoly in registering domain names for the
millions of dot ‘com’, ‘org’, and ‘net’ sites on the
Internet.
VeriSign is a provider of Internet authentication, validation and payment services, and
plays a crucial role in e-commerce applications.
Back to News Review
index page
GE sets up unit
to look after start-ups
New York: GE Information Systems, a part of the General Electric Co group, will set
up two new units, GE Global Exchange Services, and GE Systems Services, to provide a wide
range of services for the fast growing market for internet-based commerce.
Back to News Review
index page
DaimlerChrysler
may buy stake in Mitsubishi Motors
Tokyo: DaimlerChrysler, the world's sixth largest auto manufacturer, is preparing
to buy a 30 per cent stake in the troubled Japanese auto company, Mitsubishi Motors
Corporation. The deal will give DaimlerChrysler a significant base in Asia.
A combination of DaimlerChrysler and Mitsubishi Motors,
Japan's fourth-largest auto maker, will create the world's third-largest auto company,
with annual production of about 6.5 million vehicles.
Back to News
Review index page
Renault
targets Samsung Motors
Paris: Renault SA, the French auto maker, has announced a bid for the assets of
South Korea's debt-burdened Samsung Motors. Renault wants to create a joint venture
company, owned 70 per cent by Renault and 30 per cent by the Samsung group, which would
acquire the operating assets of Samsung Motors for $450 million.
Renault needs to expand its Asian operations, and a deal
with the Samsung group could give it a strong presence in Korea, the second largest auto
market in Asia.
Back to News
Review index page
Compaq plans fastest
PC processor
Houston: Compaq Computer will market what it says is the fastest processor in the consumer computer sector, capable
of operating at one gigaertz, or 1,000 megahertz. Its first Internet personal computer
with the 1GHZ AMD Athlon processor is expected to be available from 9 March.
Back to News Review
index page
|
