16 Jun 08 Reliance Communications – MTN Reverse Merger on track

There are press reports indicating that Reliance Communications senior management has said that the Rcom and MTN reverse merger deal is on track, despite being threatened by Reliance Inudstries. RIL had sent strongly worded legal notices to both MTC as well as Reliance Communications saying that the proposed deal with be in violation of agreements entered betweent Anil Ambani’s ADAG group and Mukesh Ambani’s Reliance group when the group split into two. According to RIL, Reliance Inudstries Limited has the right of first refusal and hence the deal with MTN cannot go ahead without permission from RIL.

21 Nov 07 Reverse Merger of Simplifly (Air) Deccan and Kingfisher on the cards?

If market rumours are to be beleived Vijay Mallya is looking at a reverse merger possibility of Kingfisher Airlines with Air deccan, which has now been renamed as Simplifly Deccan. Vijay Mallya is said to be contemplating over this move since it could get Kingfisher licence to fly new foreign routes. The shares of Simplifly Deccan (Air Deccan) have zoomed by over 20% in the past 2 days on a cumulative basis. However, I suggest that investors don’t rush and buy shares of Air Deccan at the moment. Shares of deccan aviation are over priced and in case the news of reverse merger happens to be false, the hsre prices of Deccan Aviation are likley to tumble. As the old wall street adage goes, buy on rumours, sell on news…it now is too late to act on this rumour.

11 May 07 Bajaj Auto board to consider splitting business

Bajaj Auto informed the Indian stock exchanges that its board of directors would meet on May 17 2007 to consider splitting the business of Baja Auto and forming one or more new companies. Bajaj Auto had earlier informed the Indian stock exchanges that it would consider separating its manufacturing business and its investments business which are totally unrelated.