Part of REL stake being sold to foreign company ...
One fine day, he may just reduce REL to a loss-making distcom .. and hive off all other profitable parts of the business .. and then collect MORE tariff quoting losses ....
Its a WIN-LOSE situation .. Ambani wins .. and all consumers lose ... just wait and watch ..
The article appears here:
http://www.businessworld.in/content/view/2561/2639/
and goes like this ...
"Anil Ambani is back to doing what he is best at — deals. The Anil Dhirubhai Ambani Group (ADAG) chairman is planning to sell a 5 percent stake in his power generating company — Reliance Energy (REL) —to a foreign but hitherto unnamed partner.
Officials close to the negotiations between REL and its future partner say that the deal is nearing closure. The shares may be sold at Rs 1,100 a share, Rs 93 higher than the conversion price of foreign currency convertible bonds (FCCBs) issued in 2004 and Rs 154 higher than the closing price on BSE on 19 September.
Offloading 5 per cent will fetch REL a cool Rs 1,254 crore."
No comments:
Post a Comment