Sterlite bags Balco for Rs 551-cr -- Pips Hindalco, Alcoa in divestment of the year
THE Union Government today struck the first disinvestment deal in the current fiscal by approving the sale of 51 per cent stake in the aluminium major, Bharat Aluminium Co Ltd (Balco), to Sterlite Industries Ltd for a consideration of Rs 551.5 crore.

Setback to AV Birla expansion plans
THE A.V. Birla group was a strong contender for Balco. Thus, with the Government deciding in favour of Sterlite, Mr Kumar Mangalam Birla's hopes of becoming the biggest player in the aluminium market have received a setback.

Emirates Airlines likely to pull out from bidding for Air India
THE Government's plans for disinvestment in the national carrier, Air India, seems to have hit a bumpy terrain with one more suitor, the Dubai-based Emirates Airlines also set to pull out of the bidding process, according to airline sources.

UB to take 100 pc stake in Associated Breweries
UNITED Breweries Ltd has struck an agreement with the Mumbai-based Associated Breweries and Distilleries (ABD) to acquire 100 per cent stake in the company within 24 months.

BuyAsOne closes shop
PORTENDING the dotcom carnage in India, BuyAsOne.com, a popular B2C portal, closed operations today.

Green Signal
Picture: Mr Roberto Nunzio Danrea, tram festival consultant and tram driver and conductor of the Melbourne Kolkata Tramway Friendship Festival being held in Kolkata from Wednesday to revive this old pollution-free mode of transportation.

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