Vodafone Idea merger – The background and the gains…

Vodafone India and Idea Cellular announced the completion of their merger last week, proposed eighteen months ago. The telecom sector has seen several exits/mergers since the entry of Reliance Jio such as sale of Tata Tele to Airtel, R-com assets to R-Jio, closure of Aircel etc. However, this one is the biggest and more interestingly, was … Continue reading Vodafone Idea merger – The background and the gains…
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Jaiprakash Associates – What went wrong..??

Jaiprakash Associates (JAL) suffered two setbacks in August  first with The Supreme Court denying it permission to bid for its subsidiary, Jaypee Infratech, which is undergoing insolvency proceedings. The second one came this week when lenders sold another of its subsidiary for failing to meet its debt obligation. While JAL was certain to lose most … Continue reading Jaiprakash Associates – What went wrong..??
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Vodafone-Idea Merger Proposal – The Rationale..

The confirmation by Vodafone Plc recently that it is in talks with Idea Cellular for potential merger of Vodafone India is another big churn in the Indian Telecom sector. While R-Jio’s entry was expected to disrupt the market, that the second largest player would call it quits is unanticipated and quite shocking. A look at … Continue reading Vodafone-Idea Merger Proposal – The Rationale..
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Understanding ONGC – GSPC Gas Block Deal.

The announcement on buyout of Gujarat State Petrochemical Corporation’s (GSPC) assets in K-G basin block by ONGC earlier this week puts an end to GSPC’s audacious attempt to establish itself as an important gas producer. GSPC struggled for more than half a decade to extract gas from the field after a high profile announcement on … Continue reading Understanding ONGC – GSPC Gas Block Deal.
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Vodafone – Another case of costly acquisition and write-off…

Vodafone India is to Vodafone plc what Tata Steel Europe is to Tata Steel..! Vodafone plc’s recent decision to write-off € 6.4 billion (nearly Rs 46,000 crore) with respect to vodafone India’s operation confirms this. This is the second write-off by Vodafone plc related to India, the first being in 2010 for € 2.3 bn and … Continue reading Vodafone – Another case of costly acquisition and write-off…
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Tata Sons & Group Companies – Understanding the Board Structure..

The dispute arising out of removal of Cyrus Mistry as Chairman of Tata Sons has got more muddied with a hostile stand taken by Mistry. This has led to measures being taken by Tata Sons for his removal which are quite unprecedented, in the Indian Corporate history and of course, the history of Tata Group. … Continue reading Tata Sons & Group Companies – Understanding the Board Structure..
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Impairment Charges – Case of Tata Steel Europe..

Amidst the noise around Cyrus Mistry’s exit from Tata Sons is the issue of potential impairment charges, most notably in Tata Steel Europe. No doubt, Tata Steel paid a heavy price for the acquisition of Corus but how serious are his allegations and how heavy is the burden of existing European assets. A brief attempt to understand … Continue reading Impairment Charges – Case of Tata Steel Europe..
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