Mukesh Ambani’s Reliance Retail valued at $34 billion in share swap
Share owners in Reliance Retail Ltd. can exchange four shares for one of its listed parent Reliance Industries Ltd., according to a so-called scheme of arrangement posted on the group’s website. With the parent’s latest market capitalization at Rs 9.8 trillion ($137 billion), the share swap values the subsidiary at Rs 2.4 trillion, according to Bloomberg’s calculation. Read more
Airbus added to ‘operational challenge’: GoAir explains cancelled flights
The Wadia group-owned airline cancelled as many as 40 flights this week on account of shortage of staff and inclement weather, among others issues. Read more
DoT to seek Trai’s views on 5G; considers spectrum auction in 2020
The Department of Telecom (DoT) sources said that the government will soon approach Telecom Regulatory Authority of India (Trai) for its recommendations on ‘millimeter wave bands’ of 24.75-27.25 GHz, coveted bands for 5G. Read more
Coal India’s fuel supply to power sector drops 9% to 291 MT in April-Nov
The supply of coal by state-owned Coal India to the power sector registered a decline of 8.9 per cent to 291.4 million tonnes in April-November this year. Read more
Hong Kong malls become flashpoint for protests during Christmas holiday
Hong Kong’s shopping malls have become a flash point for protests during the Christmas holiday, with more rallies set for today. Pro-democracy demonstrations have been called for the afternoon of Boxing Day at shopping centers in areas including Causeway Bay, Mong Kok and Tsim Sha Tsui, according to notices distributed through social media. The protesters are hoping to attract attention to their cause by forcing malls and stores to close, according to the notices. Read more
Source: Business Standard
