SBI Postpones Merger Plan with Associate Banks

India’s Largest Lender, state owned State Bank of India has adopted a wait and see attitude towards the proposed merger with six associate banks. SBI chairman OP Bhatt said there were no further merger plans for the time being after having completed the merger with State Bank of Saurashtra (SBS).

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Tata Sons Sells 26% Telecoms Stake to DoCoMo. Chairman Concerned Over Financing

Japanese mobile phone major NTT DoCoMo acquired a 26% stake in Tata Teleservices for Rs. 13, 311 crores ($ 2.7 billion) according to a joint statement issued by both companies on Thursday. NTT will along with Tata Sons also be making a tender offer to buy 20 per cent of the outstanding shares of Tata Teleservices (Maharashtra) not owned by the holding company in accordance with SEBI guidelines. No financial details of the offer were provided in their statements.

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