*A consortium of Blackstone and Crown Castle, GTL, and American Towers are in talks with Reliance Infratel. *
*Strategic, PE Players In Race For Reliance Infratel* - A consortium of PE firm Blackstone and US-based tower company Crown Castle International, Manoj Tirodkar owned GTL, and American Towers, are in talks with Anil Ambani’s Reliance Communications (RCOM) for acquiring its tower unit through a demerger. RCom said on Monday that its board had approved a proposal to restructure the ownership of its tower arm, Reliance Infratel, and make it an independent tower company that is not owned nor controlled by any telecom operator. (Economic Times)<http://economictimes.indiatimes.com/Telecom/articleshow/6048672.cms> *Fatpipe Plans PE After Withdrawing IPO* - Fatpipe Networks India Ltd, which provides wide area networking (WAN) products, has decided to withdraw its initial public offering (IPO). The company stated this was due to market conditions and that private equity (PE) was one good possibility now. The company planned to raise around Rs 50 crore through the IPO. (Business Standard)<http://www.business-standard.com/india/news/fatpipe-calls-off-ipo-looks-to-pe/398171/> *Mahindra To Start Ssangyong Due Diligence* - Mahindra & Mahindra Ltd. will start due diligence on Ssangyong Motor Co. in the next 1-2 days so it can decide on submitting a final bid for South Korea's fourth-largest car maker by sales. Mahindra, India's biggest sport-utility vehicle maker by sales, is among six companies worldwide who qualified earlier this month to conduct due diligence on cash-strapped Ssangyong before submitting their binding bids. (Wall Street Journal)<http://online.wsj.com/article/BT-CO-20100614-702661.html?mod=WSJ_World_MIDDLEHeadlinesAsia> *Rajiv Shukla To Head Citi Corporate Banking* - Citi has promoted Rahul Shukla to head of corporate banking in India. Nikhil Eapen, who currently works with him, will take on Shukla's current role as Asia-Pacific head of technology, media and telecommunications (TMT) within the global banking division. In his new role, Shukla will be charged with enhancing Citi's offering of corporate banking services in India, including cash management, foreign exchange, loans and trade finance. (Financia Asia)<http://www.financeasia.com/News/215137,rahul-shukla-to-head-citi-corporate-banking-in-india.aspx?refresh=on> *Govt Plans $1B Energy Focused Fund *- The government of India is planning for an over $1 billion sovereign-backed fund to boost trade and investment by domestic power utilities in South Asia. The Commerce Ministry has already asked the Export-Import Bank of India (Exim) and the Export Credit Guarantee Corporation of India (ECGC) to work out on the outline of the fund. The proposed fund is aimed at developing a South Asian regional energy grid, with focus on renewable sectors such as hydro, solar and wind. (Business Line<http://www.thehindubusinessline.com/2010/06/15/stories/2010061553130900.htm> ) *Jaypee Group To Buy Duncans’ Fertilizer Biz *- Jaypee Group, a diversified industrial conglomerate, is acquiring a controlling stake in the dormant fertiliser division of G P Goenka-controlled Duncans Industries. Duncans board will meet on June 17 to discuss the issue. Duncans' proposal for divestment would have to be ratified by the Board for Industrial and Financial Reconstruction (BIFR). The fertilizer division has liabilities of around Rs 560 crore, which Jaypee will take on. (BS<http://www.business-standard.com/india/news/jaypee-to-take-chargeduncans%5C-dormant-fertiliser-business/398275/> ) *Fortis Hires Religare Cap, RBS & Macquarie For Fund Raise *- Fortis Healthcare Ltd, the Delhi-based healthcare operator which has recently announced its plan to raise up to Rs 2,750 crore through issue of fresh securities, has appointed three investment banks to process the activity. The bankers include Religare Capital, RBS and Macquarie. Reportedly, a consortium of banks are willing to fund up to $1 billion (about Rs 465 crore). Fortis is readying warchest for majority buy in Parkway in which its rival Khazanah, a Malaysian fund, recently made its formal offer to increase its stake to 51.5%. (ET<http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/Fortis-hires-3-i-banks-to-help-raise-funds/articleshow/6048478.cms> ) -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
