Oberoi Group Chairman PRS Oberoi today ruled out selling promoter stake in EIH Ltd, that owns the Oberoi hotels and resorts chain, but said he cannot stop ITC from buying shares in the open market. Earlier this year, ITC Ltd had increased its stake to 14.98 per cent in EIH Ltd triggering speculation that the FMCG- to-hospitality conglomerate could go for an open offer once it crosses the 15 per cent mark. We have 46.4 per cent (in EIH Ltd) and there is no plan to sell any stake, Oberoi told reporters here. Asked about ITC increasing stake in EIH through open market purchases, he said: If somebody wants, we can't stop people buying from the stock market.
The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment