VC, PE updates

VCCircle.com

Citi In Talks With Oman Investment Corporation For HDFC Stake Sale: Report
RCOM, MTN Call Off Talks; Decision Mutual
Soma Networks Gets $51 Million From India Knowledge Fund, Others
Rabobank Announces First Closure Of $100-M Food & Agri Fund
Government May Quash Press Note 1; Will Help Foreign Partners

Essar Global To Invest Rs 590 Crore In Truck Maker Asia MotorWorks
Exit Time: Murugappa Sells 47% In Parryware To JV Partner For $176M
Siva Cries Foul Over Maxis’ Plans To Sell Aircel Stake
Forum Synergies To Raise $150 Million SME Fund
Khaleeji Commercial Bank Announces $430M Fund For Logistics City In Mumbai

Deepak Parekh Says Enough Takers For Citi Stake In HDFC
Unitech Raises $300 Million Real Estate Fund From Abroad
Avendus Gets Rs 100 Crore From Dubai’s Eastgate Capital
GE Commercial Finance Invests Rs 100 Crore In Controls & Switchgear
South Indian Franchisee Of Pizza Hut, KFC Topping Up A Deal With New Silk Route

Parsvnath Picks Up 38% In Sabeer Bhatia’s Nanocity In Haryana

PE Funding Plans: Warburg-CGH, Balaji Telefilms, Sona Autocomp, Microqual

After The Spice Sale, Modis Hit Capital Market With Cellebrum

Capt. Gopinath Seeks $50 Million For His Cargo Venture

The $52-Billion InBev-Anheuser-Busch Deal To Shake Up India’s Beer Duopoly

UK’s Imperial Energy Confirms ONGC’s $2B-Interest

Bupa Asia-Pacific Picks Up 26% In Health Insurance JV With Max

R-ADAG’s Cement Foray: Who Could Be Their Targets?

Tata’s PE Plans: $200-300 Million Fund Each For Tech, Mid-Caps

Can KP Singh Bring Back The Magic With DLF Share Buyback?

Source: Vccircle.com

Reliance Communications-MTN mutually end tie-up talks

Reliance Communications-MTN mutually end tie-up talks

Reliance Communications and South Africa's MTN on Friday mutually ended tie-up talks after Mukesh Ambani-owned Reliance Industries (RIL) on Thursday started arbitration proceedings against younger brother Anil's RCom to thwart the latter’s merger with Africa’s largest telco. RCom said that it is unable to presently conclude the deal due to regulatory issues. The No. 2 mobile carrier in the country has been in exclusive talks with MTN since late May to create a top-10 global telecoms group spanning about two dozen countries. But a claim by elder brother Mukesh of first right of refusal on Reliance Communications shares had complicated prospects for a deal.

The dispute took a fresh turn on Thursday when Mukesh, who runs RIL started arbitration proceedings on the share claim. However, Reliance Communications investors on Friday shrugged off the latest twist in a family squabble clouding the group. A 45-day exclusivity period between RCom and MTN expired earlier this month and an extension was due to end on Monday. The talks have been overshadowed by the dispute and whether MTN would risk striking a deal which could then be beholden to India's judicial system.

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Source: ET