After Murdoch, its Kerry Packer
New Delhi: Kerry Packer, the man who created one day international cricket in its
present form -- then touted as 'pyjama cricket' by the purists -- is all set to set India
ablaze. Close on the heels of his compatriot, Rupert Murdoch, Mr. Packer is arriving in
the country from London in his private aircraft, alongwith his son and his management
team. The maverick Australian tycoon, is likely to
finalise investments in the country to the tune of Rs. 500 crore, including investments in
five portals and software companies. Their investments in the areas of internet start-ups,
telecom and media. On the cards is an agreement for equity participation in Sahara TV for
a sports channel. The Packer group has already invested over Rs. 1,000 crore in this
country through its investment in Himachal Futuristic Communication Limited.
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Global Trust to issue
preferential shares
Mumbai: One of India's earliest entrants into the private sector banking sector,
Global Trust Bank, is seeking to enhance its net worth to over Rs. 100 crore, by issuing
preferential shares to mutual funds and other institutional investors. It is believed that
this step is being taken with a view to enabling the bank to enter the insurance sector.
According to Mr. Ramesh Gelli, managing director of
the bank, it is scouting around for a foreign partner who will take a strategic 20 per
cent stake in the bank. Global finance institution, International Finance Corporation, is
said to be helping the bank finding the right partner.
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