South African mobile phone operator MTN Group and Reliance Communications (RCOM) may reportedly continue their tie-up talks beyond Tuesday's (8 July 2008) deadline. An extension would give Reliance Communications' chairman Anil Ambani some time to try to resolve a claim of right of first refusal on the telecom's shares by his estranged brother Mukesh Ambani, who runs Reliance Industries, added reports.
Reliance Industries reportedly plans to buy some downstream assets of Chevron Corporation in Africa. Essar goup is also in talks with Chevron for buying the assets, which include 1,500 fuel stations, refineries, terminals and depots, the reports added.
Regal Entertainment Group, Bain Capital, Texas Pacific Group and Goldman Sachs are reportedly in talks with the founders of Pyramid Saimira Theatre for about 14% stake. The deal, if struck, Pyramid could be worth Rs 250 - Rs 300 crore.
Infrastructure Development Finance Company (IDFC) is reportedly looking for partners for its foray into urban transport projects such as mono-rail and light rail transit system.
Essar Oil is still reportedly in the race to to buy 50% in Kenya Petroleum Refineries and the Kenyan government was still evaluating Essar's proposal on the refinery.
Tata Motors has reportedly raised its stake in Automobile Corporation of Goa (ACGL) by 3% to 40.6% in three months through open market purchases.
The union coal ministry is reportedly considering a proposal to allow Reliance Power to transport the excess coal from the three captive blocks of Sasan project to the group's proposed 4,000 megawatt plant at Chitrangi. Both Sasan and Chitrangi projects are located in Madhya Pradesh.
Indian drugmakers such as Ranbaxy Laboratories, Cipla, Cadila Healthcare, Piramal Healthcare and Wockhardt would soon reportedly withdraw about 60 drug combinations from the market.
Bharat Heavy Electricals (BHEL) is likely to get an order worth Rs 2500 crore from Andhra Pradesh Power Generation Corporation for boilers, suggest reports.
The board of Era Infra Engineering approved sub-division of equity Shares of the company from existing one equity share of Rs 10 each to five equity shares of Rs 2 each.