Business Services Industry
Privatization is boosted in India with two sales.
Australasian Business Intelligence, February, 2002
Feb 6, 2002 (The Asian Wall Street Journal
ABIX via COMTEX) -- The privatisation agenda of the Indian Government was revived at the start of February 2002. An analyst at SMIFS Securities, Sanjay Chhabaria, says that the Indian Government is being more forceful about privatisation in 2002. The sale of shares in two companies would have achieved more the Indian Government if it had not delayed the sales for so long. The shares were in IBP, a member of the gasoline retail industry, and Videsh Sanchar Nigam, a member of the telecommunications industry. Other companies expected to become part of the privatisation agenda are Bharat Petroleum and Maruti Udyog. The $US540m raised was from the sale of controlling stakes in the two companies. The Tata Group obtained a 25...
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