Merger

Tuesday, Apr 23, 2024 | Last Update : 03:29 PM IST

As per the deal, the shareholders of SPNI will hold majority stake in the merged entity.

Zee Entertainment, Sony India announce merger; Punit Goenka to lead new entity

Sony Pictures Networks India said the merger would bring together two leading Indian media network businesses, benefitting consumers

22 Sep 2021 11:18 AM

Communications minister Ravi Shankar Prasad said a total of 79,000 employees of BSNL and 14,000 out of 20,000 employees of MTNL have applied for the VRS scheme which the government has come out with to reduce the employee cost in these PSUs which is currently very high as compared to the industry. (Photo: File | PTI)

Govt trying to revive BSNL, MTNL, make them profressional

We want to revive them and make them professional, said Communications minister Ravi Shankar Prasad.

28 Nov 2019 2:50 PM

In a joint statement the French and US-Italian carmakers said their boards of directors "have each unanimously agreed to work towards a full combination of their respective businesses by way of a 50/50 merger".

Peugeot and Fiat Chrysler unveil merger of equals

Merger would be achieved via creation of a parent company in Netherlands in which the shareholders of each current group would own half.

31 Oct 2019 2:14 PM

MTNL has reported losses in nine of the past 10 years and BSNL too has been ringing in loss since 2010.

MTNL shares surge 5 pc; hit upper circuit on revival plan announcement

MTNL's scrip jumped 4.92 per cent to Rs 6.19 -- its upper circuit limit on the BSE.

24 Oct 2019 11:20 AM

Under the current round of squeezing, 10 banks will be amalgamated into four.

Some 300,000 employees of Indian state-led banks strike against mergers

Government may call it a merger but in reality it is cold-blooded murder of six banks,” a release by the bank unions said.

23 Oct 2019 9:05 AM

This brings an end to recent uncertanity and the Bank will continue to work towards raising capital as per the permitted modes in compliance with all applicable Acts and Regulations, Laxmi Vilas Bank's chief financial officer S Sundar said.

Merger failure: Lakshmi Vilas Bank confident of raising capital

LVB is under the prompt corrective action framework of RBI since last month for low levels of capital buffers.

10 Oct 2019 5:24 PM

Shares of Lakshmi Vilas Bank (LVB) sank 5 per cent to hit lower price band as well as one-year low of Rs 25.65 on the BSE.

Indiabulls Housing Finance, Lakshmi Vilas Bank hit 52-week lows

Indiabulls Housing Finance (IBHF) stock tumbled 18.02 per cent to trade at Rs 197 on the BSE.

10 Oct 2019 12:11 PM

The merger is scheduled to come into force from April 1 next year.

34 functional teams to smoothen merger of UBI, PNB, OBC

Merger will make the new entity the second-largest bank in the country after the SBI with a total business volume of Rs 18 lakh crore.

02 Oct 2019 12:13 PM

Finance Minister Nirmala Sitharaman had on August 30 announced the consolidation of 10 state-run banks into four large-scale lenders.

Allahabad Bank board approves merger with Indian Bank

Employees and officers of Allahabad Bank staged a demonstration in front of its headquarters here to protest against the merger.

17 Sep 2019 9:00 AM

A meeting of the board of directors of the bank is scheduled to be held on Monday, 16th September, 2019.

Boards of Allahabad, Andhra Bank schedule meeting for merger proposals

Following next year, Bank of Baroda had merged Vijaya Bank and Dena Bank with itself.

12 Sep 2019 9:14 AM

A deal would see Singapore-based Grab buy a majority interest in Ant-backed DANA from Indonesian media conglomerate Emtek.

Grab in talks to merge Indonesian payment firms to overtake Gojek: sources

Grab and Gojek are the top-two startup brands in Southeast Asia, valued at USD 14 billion and USD10 billion.

11 Sep 2019 11:57 AM

Currently the public sector lender has 2,900 branches across the country with 21,000 employees, including 11,000 officers.

Merger woes: Bank officers associations to meet in Delhi on Sept 5

All the general secretaries of all banks' officers associations will meet there and finalise the action program to oppose the merger.

03 Sep 2019 2:59 PM

The mergers announced on Friday, together with two set consolidations done last year, will reduce the number of public sector banks to 12 from 27 in 2017.

PSB stocks plunge up to 9.3 per cent post merger announcement

Shares of Corporation Bank tanked 9.28 per cent to Rs 17.10, Punjab National Bank plunged 8.54 per cent to Rs 59.40.

03 Sep 2019 1:11 PM

FM Nirmala Sitharaman on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized banks. (Photo: File | ANI)

There will not be single job loss due to merger of banks: FM

I have very clearly underlined the fact that there shall not be one employee removed, said Finance Minister Nirmala Sitharaman.

01 Sep 2019 4:55 PM

The previous two rounds of bank consolidation, will bring down the number of nationalised public sector banks to 12 from 27 in 2017.

Board to soon consider amalgamation with OBC, United Bank: PNB

The government on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans.

31 Aug 2019 2:14 PM

The government announced four major mergers of public sector banks, bringing down their total number to 12 from 27 in 2017, a move aimed at making state-owned lenders global sized banks.

Banks merger reflects govt resolve to address economic slowdown: India Inc

Manufacturing output and subdued farm sector activity pulled down India's GDP growth to 5 pc in April-June quarter.

31 Aug 2019 11:08 AM

Union Finance Minister Nirmala Sitharaman. (Photo: File)

From 27 to 12, Finance Minister announces mega PSU bank mergers

Non-performing assets have also been brought down from Rs 8.65 lakh crore to Rs 7.9 lakh crore.

30 Aug 2019 4:55 PM

Merger is one of the many components of the overall revival plan because clearly MTNL cannot stand by itself.

DoT working on proposal for MTNL, BSNL merger; final call by Cabinet: Source

The net worth of BSNL stood at Rs 34,276 crore, while MTNL had a negative networth of Rs 9,735 crore as on April 1, 2019.

30 Jul 2019 4:11 PM

The board of Lakshmi Vilas Bank had approved the merger with Indiabulls Housing Finance in which shareholders of the bank will get 14 shares of Indiabulls Housing Finance for every 100 shares they hold.

Indiabulls Housing Finance-Lakshmi Vilas Bank merger gets CCI nod

In April this year, Lakshmi Vilas Bank had announced its merger with Indiabulls Housing Finance in a share-swap deal.

21 Jun 2019 11:24 AM

FCA remains firmly convinced of the interest of its offer but "political conditions do not currently exist in France to carry out such an arrangement.

Fiat Chrysler withdraws offer of merger with Renault

The government has warned against ‘any haste’ regarding the proposed 50/50 merger.

06 Jun 2019 8:49 AM

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Aakar Patel

merger