Weekly 2 News updated 30-08-2010 to 05-09-2010 Compiled by : Navneet Suri Mba- 2(a)
NEW ENTRANTS SEEK REFUND OF FEES <ul><li>THE telecom department (DoT) is examining proposals that would allow new mobile operators, who were given licences and airwaves under controversial circumstances two years ago, to sell out or exit, paving the way for a possible consolidation in the 14-player domestic telecom market. </li></ul>
<ul><li>Several possibilities were being considered, including allowing new companies to merge with larger operators, shortening the three-year period during which the promoter of a new company cannot sell out, and relaxing rules to allow incumbents to retain airwaves held by these new companies if a buyout or merger were to happen. </li></ul>
RIL makes Grand entry into EIH with 14% buy <ul><li>Reliance Industries took investors by surprise with a stake buy in the hospitality company for 1,021 crore, paying an over 30% premium to EIH’s Friday closes. </li></ul><ul><li>The deal upsets cigarette-maker ITC’s desire to one day control the company, and ends Max Group chairman Analjit Singh’s flirting with the Oberois for a substantial stake. </li></ul>
<ul><li>RIL bought 14.12% in EIH, which runs the Oberoi and Trident chains, from the promoters, providing funds to them to subscribe to a possible preferential share sale </li></ul>
Tata Global Beverages to enter kids foods business <ul><li>Global Beverages (formerly, Tata Tea) is poised to hit kids street. </li></ul><ul><li>We will be looking at nutritional food and wellness products in the food category. Nutritious food like fortified candies can be introduced for children. </li></ul><ul><li>Our mission is to provide products in the market that deliver physical and functional benefits and satisfying emotional and well-being needs. </li></ul><ul><li>Our vision is to be the leading ‘good for you’ beverage company.” </li></ul>
Coca-Cola enters dairy-based beverages segment <ul><li>Global beverages giant Coca-Cola marked its entry in the dairy segment with the launch of a milk-based mango drink. </li></ul><ul><li>The product, Maaza Milky Delite, had been launched for the first time in Kolkata. </li></ul><ul><li>The national roll-out of it would take place after the product's test marketing in Kolkata. </li></ul>
HUL’S India operations become talent hub for overseas business <ul><li>Unilever is increasingly seeking their experience of handling a diverse and complex market like India to crack other markets, and it is assigning them roles that are more important in its present scheme of things. </li></ul><ul><li>The majority of HUL managers who have moved out of India in recent times have gone to Asia (Bangladesh, China , Indonesia, Singapore, Sri Lanka, Thailand , Vietnam), East Europe (Poland and Russia) and Africa (South Africa); some have gone to the regional headquarters in Singapore, or to West Europe. </li></ul>
Contd… <ul><li>The plan, aimed at achieving greater cohesion among the multinational’s geographies. Unilever posts job openings on its intranet, and managers in other geographies are free to apply </li></ul>
Punjab and Gujarat in favor for FDI in food items <ul><li>Punjab and Gujarat are in favor of FDI in multi brand retail in food items while many others have opposed the idea </li></ul><ul><li>The consumer affairs ministry has invited suggestions from the states on allowing FDI in multi brand retail. </li></ul>
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