OBC drops acquisition plan for a year

21st February 2005: Oriental Bank of Commerce (OBC) today ruled out any further acquisitions for a year as it was now concentrating on synergising operations following the merger of ailing Global Trust Bank (GTB) with it. "There will be no aquisition right now. It will take at least a year to synergise the operations (of OBC and GTB). Till that time we are not thinking of any acquisition," OBC chairman B D Narang said.

DCM Shriram Industries Board to consider proposal for amalgamation / merger

18th February 2005: DCM Shriram Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on February 24, 2005, to consider a proposal for amalgamation / merger of Daurala Organics Ltd with the Company.

4 options for BSNL-MTNL synergy: I-Sec

18th February 2005: ICICI Securities (I-Sec), the consultant appointed by the Government to work on synergising the operations of the two telecom PSUs - BSNL and MTNL, has short-listed four options for the proposed process, according to draft report of the bankers. The options are merger of two PSUs and making one PSU a subsidiary of the other based on a 5-point criteria - competitive position, shareholder value, cost implication, execution difficulties viz. where the funds to come from and time period. All the four options (merger of MTNL into BSNL or BSNL into MTNL, making MTNL a subsidiary of BSNL or vice-versa) would be presented in the form of "most favoured" option from one to four, sources said. I-Sec will present final report of phase-I to the merger panel constituted by Department of Telecom.