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Telenor to buy majority stake in Unitech Wireless for over Rs.6120 crore Norwegian telecom giant Telenor ASA announced a bold move, Wednesday, saying it would buy the majority stake in India's real estate major Unitech Ltd's telecom arm for over Rs.6120 crore (approx. $1.23 billion). 29 Oct 2008
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Daiichi Sankyo buys 52.5 percent stake in Ranbaxy, gains control Japanese drug maker Daiichi Sankyo has gained majority control over India's biggest generics drug maker Ranbaxy Laboratories, by purchasing 52.5 percent of the Indian firm, a joint statement released by the two firms on Monday said. 21 Oct 2008
Infosys not to raise Axon bid, rival HCL set to make largest overseas IT acquisition India's IT Bellwether Infosys Technologies said, Friday, it will not be increasing its offer bid for UK-based leading SAP consultant Axon Group Plc., a move that paves the way for rival HCL Technologies, which had trumped Infosys' offer, to acquire Axon. 10 Oct 2008
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US President Bush signs historic India-US nuclear agreement into law, 123 Agreement to be signed today US President George W. Bush assured, Wednesday, that the legislation, which he signed into a law, allowing India and US to open up nuclear trade, "makes no changes to the terms of the 123 Agreement," even as he reiterated the fuel supply assurances and the consent to reprocessing contained in the nuclear deal. 10 Oct 2008
Citigroup wins Round 1, gets temporary injunction to block Wells Fargo-Wachovia deal The battle over control of the sixth largest consumer bank in the US, Wachovia Corp., has intensified with Citigroup Inc. claiming, Saturday, it has successfully persuaded the court to pass an injunction, prohibiting Wells Fargo from proceeding with its planned buy of the ailing bank. 05 Oct 2008