Is IFCI destined to remain single? (Business Standard 26th Dec 2007)
Be it a stroke of luck or a jinx, the country’s oldest financial institution, IFCI, will remain single , thanks to all the failed efforts to find a suitor or a partner to merge with.
Although it found a suitor in the Vedanta group company Sterlite Industries-led consortium for offloading a 26 per cent stake but could not accept the conditions of handing over the management control to the strategic partner.
Earlier, two efforts of IFCI to merge with PNB and IDBI ever since 2004, remained fruitless. More
Be it a stroke of luck or a jinx, the country’s oldest financial institution, IFCI, will remain single , thanks to all the failed efforts to find a suitor or a partner to merge with.
Although it found a suitor in the Vedanta group company Sterlite Industries-led consortium for offloading a 26 per cent stake but could not accept the conditions of handing over the management control to the strategic partner.
Earlier, two efforts of IFCI to merge with PNB and IDBI ever since 2004, remained fruitless. More
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