labels: finance - general, economy - general, the infrastructure leasing and financial services, infrastructure development and finance company, m&a
No plan to merge IL&FS, IDFC news
Our Banking Bureau
11 September 2003

New Delhi: The Indian ministry of finance has ruled out any immediate plan to merge Infrastructure Leasing and Financial Services (IL&FS) with Infrastructure Development Finance Company (IDFC).

Official sources said though there were some talks on the issue, no concrete proposal has emerged. "There is nothing on paper. There might have been some thinking in that direction at some time, but no proposal has emerged yet."

Recently, there had been speculations that the finance ministry had cleared a proposal for the merger of the two institutions in view of a degree of overlap of the functioning of the two entities.


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No plan to merge IL&FS, IDFC