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Saturday, June 24, 2000
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Finolex Cables: Consolidating operations

THE consolidation exercise undertaken by Finolex Cables may lead to firm trends in the stock price. The company has proposed to acquire the 50 per cent shareholding of SX Mauritius Holdings Inc, Mauritius held in the joint venture company Finolex Essex Inds Ltd. Finolex Cables already holds a 50 per cent stake in the latter. The company plans to merge Finolex Essex with itself once the acquisition of the stake is completed. The move to consolidate the business under Finolex Cables fol d may help underpin the stock price trends.

BL Research Bureau

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