2. Coke brings Nestle tie-up to India
to take on Pepsi
COCA-COLA, extending its global joint
venture with Nestle for ready-to-drink tea —
Beverage Partners Worldwide — to India,
at a time when a joint venture between its
archrival PepsiCo India and Tata Tea for
functional beverages is on the verge of
being kicked off.
3. Videocon’s Kim to quit India
in April
KWANG Ro Kim, one of the most
successful expat professionals in the
country, has decided to end his decade-
long career in India in April next, when his
three-year contract as vice chairman &
CEO of Videocon Industries expires.
“Back in Korea, I want to start a
consultancy which will assist Korean small
and medium enterprises to attain global
scale,” the soft-spoken Korean told ET.
4. Qualcomm looks to sell
broadband biz
US-BASED chip maker Qualcomm has
hung the ‘For Sale’ sign on its yet-to-start
wireless broadband service in India, less
than five months after it won these permits
in a keenly-contested auction and paid
4,913 crore for its licences.
The company has sought a minimum price
of 5,000 crore for its airwaves and permits
in the four circles of Mumbai, Delhi,
Haryana and Kerala.
5. Bharti, Aircel keen on
Qualcomm BWA biz
Bharti Airtel, India’s largest mobile phone
company, is primarily interested in
Qualcomm’s airwaves and permits for
Delhi.
Aircel, a unit of Malaysia’s Maxis
Communications and the country’s
seventh-biggest operator, has shown
interest in the Mumbai and Kerala circles.
6. FII biggies cashing out on
listing gains
FUNDS run by Citigroup, Morgan Stanley
and Goldman Sachs are among those that
sell shares on the listing day to reap the
riches from initial public offerings (IPOs),
contrary to popular perception that top
institutions are long-term investors.
Most recent listings have plunged below
their IPO sale prices, partly due to these
funds cashing out
7. Higher auto sales lift Mahindra
Q2 profit
MAHINDRA & Mahindra, India's largest
utility vehicles maker, reported a 7.8% rise
in quarterly net profit, driven by higher
sales in a fastgrowing auto market.
India's auto sector has been growing at 25-
30%.
8. Ctd…
The company, reported net profit of . 758
crore for the second quarter ended
September compared with . 702 crore in
the year-ago period. Total income for the
quarter was higher by 20% to . 5,434
crore.
