Coca-Cola India is forming a new division dedicated to juices for the first time as it looks to expand into the growing pure juice market dominated by Dabur, Pepsico and Parle Agro. Kapil Sibal will continue as telecom minister until the next cabinet reshuffle. Dabur bought US hair care company Namaste Laboratories for $100 million to expand in Africa. The Supreme Court ordered Vodafone to set aside $554 million pending the tax dispute over its 2007 acquisition of Hutchison Whampoa's India unit. Axis Bank acquired brokerage Enam Securities' key businesses for Rs. 2,067 crore. TRAI cancelled licenses of Telenor, Etisalat DB

1. WEEKEND NEWS
(15TH NOV. TO 21ST NOV. 2010)
Presented By
Supriya Nayyar

2. COKE PLANS NEW UNIT TO ENTER
PURE JUICES
 Coca-cola India is forming a new division dedicated to juices for
the first time, as the beverage maker steps up focus on health
beverages to offset a possible slowdown in its core fizzy drinks.
 Coca-Cola pointing out that her company was a focused on a
diverse portfolio across food and beverages.
 The unit will also scout new business models and mergers &
acquisitions in juices.
 Although Coca-Cola has two juice drinks--- Maaza & Minute
Maid—it does not sell pure juices.
 This category is dominated by 3 players: Dabur’s Activ, Pepsico’s
Tropicana and recent entrant Parle Agro’s Saint.
 Coca-Cola’s juice division is to enter the pure juice category,
estimated at Rs.250 crore and growing at a rapid 20% annually.

3. SIBAL TO HOLD CHARGE OF TELECOM TILL
NEXT RESUFFLE
 PM Manmohan Singh handed over the reins of
Sanchar Bhawan to HRD Minister Kapil Sibal.
 & the department will have to be handed over to the
DMK chief M Karunanidhi.
 With the opposition determined to tar the government
with the corruption brush over 2G spectrum sale- it
again forced a shutdown of Parliament.

4. DABUR BUYS US HAIR CARE COMPANY FOR
$100 MILLION
 Dabur India has bought US-based hair care company
Namaste Laboratories and its 3 subsidiaries for $100
million (Rs.446 crore) in an all-cash deal as Indian
consumer product companies continue their global
acquisition spree.
 Dabur plans to aggressively grow Namaste’s sales in
Africa.

5. SC TELLS VODAFONE TO SET ASIDE $554
MILLION IN TAX
 Vodafone Group, the world’s biggest mobile-phone company
by sales, was ordered by supreme court to pay a deposit of
$554 million as tax.
 The Vodafone has to set aside Rs.25 billion with the court
within 3 weeks and submit bank guarantees for Rs.85 billion
in the 8 weeks.
 India is seeking Rs.112 billion on Vodafone’s purchase of
Hutchison Whampoa’s local mobile-phone unit 3 years ago.
 The deposit will be returned with interest if Vodafone wins the
legal dispute.
 Vodafone does not owe the Indian government taxes because
the transaction was conducted offshore, with Vodafone’s
Dutch subsidiary, Vodafone International Holdings.

6. AXIS BANK BUYS ENAM’S STAR ASSETS FOR
RS.2,067 CRORE
 Axis Bank has snapped up the best of the house of Enam-one of
the Dalal Street’s most influential brokerage-cum-investment
banks.
 This deal is worth of Rs.2,067 crore.
 Enam Securities key businesses are Investment Banking,
Institutional and retail broking, and distribution of financial
products.
 Close to 400 Enam officials will move to the new outfit that will
be headed by Manish Chokhani– a key member of the Enam
management and one of the four shareholders in Enam
Securities.

7. TRAI CANCELS 62 LICENCES FOR FLOUTING
ROLLOUT NORMS
 Telecom Regulatory Authority of India has asked the
government to cancel 62 licences of 5 telecom operators.
 It includes joint ventures of International operators such as
Telenor ASA, Emirates Telecommunications Corp & Sistema
JSFC for failure to roll out services and for delayed launch of
mobile services.
 Trai recommended that 13 licences of Etisalat DB, five of
Loop Telecom, & 10 of Videocon Telecommunications also be
cancelled.
 As the rollouts undertaken by these companies fell short of the
requisite conditions specified in the agreement they had
entered into with the government.