Vodafone in race for T-Mobile

London, Sept. 6: Telecom entities Vodafone and Telefonica of Spain have put in conditional offers to buy T-Mobile and both are believed to have bid about £3.5 billion for the business, the Sunday Times has reported. “Vodafone and the owner of O2, Telefonica of Spain, have tabled conditional offers to buy T-Mobile as the race to create the biggest force in Britain’s mobile-phone industry gathers pace,” the report said.

Axis venture

Mumbai, Sept. 6: Axis Asset Management Company has received the final regulatory approval from the Securities and Exchange Board of India to launch its mutual fund business in the country. Axis AMC aims to launch its first set of products by October this year. The company will shortly file for both equity and debt products. Axis AMC is a wholly owned subsidiary of Axis Bank.

StanChart

New Delhi, Sept. 6: Delhi High Court has issued notice to Standard Chartered Bank on a petition, which alleged non-payment of Rs 1.5 lakh by the foreign bank as directed by the DRT and sought winding up of the lender’s India operations.

Core growth

New Delhi, Sept. 6: Companies enjoying tax exemptions as infrastructure sector entities in power and healthcare have performed better in the first quarter of this fiscal, industry body Assocham said.

BSNL equity

New Delhi, Sept. 6: The government is considering listing telecom major BSNL on the bourses by issuing nominal fresh shares and may shelve plans of directly divesting its equity for the time being, fearing opposition by employee unions.