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Goldstone revamp: PwC to undertake valuation exercise

Our Bureau

HYDERABAD, Aug. 10

GOLDSTONE Technologies Ltd (GTL), which has interests in telecom and software, has appointed the international consulting firm PriceWaterhouse Coopers (PwC) to undertake a corporate restructuring exercise.

In a statement here, the company said the three-phase consulting exercise spread over five weeks, would be to de-merge or hive off the company's telecom business into a separate entity. PwC would undertake a valuation exercise to arrive at a fair market value and work out the number of shares to be given to the shareholders of GTL in the newly hived-off entity.

Apart from recommending a restructuring option, PwC would also assist the company in the procedural aspects in fulfilling the recommended option. Goldstone would also seek the advice of PwC on the possibility of a strategic investor or merger for the tel ecom business with a corporate having business synergy.

The GTL board is scheduled to meet during the first week of September as soon as the first two phases of the restructuring exercise are complete. The board would consider recommendations of PwC, besides the valuation aspects, the statement added.