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Business Briefs

PSUs file float papers

New Delhi, Sept. 27: Two PSUs — Manganese Ore India and Hindustan Copper — today filed a draft prospectus with Sebi for their respective public issues to be launched later this year. While Manganese Ore India approached Sebi for a 20 per cent stake sale through an initial public offer, Hindustan Copper filed the papers for its proposed 20 per cent follow-on share sale.

Suzlon bid

Mumbai, Sept. 27: Suzlon Energy is in talks to buy the remaining 9 per cent in German unit REpower Systems AG, its chief financial officer has said. “We are working towards it,” Robin Banerjee said, adding that Suzlon had no plans to sell a stake in REpower. Media reports had earlier said that Suzlon might sell up to 25 per cent of its 91 per cent stake in REpower for $500 million.

DoT warning

New Delhi, Sept. 27: The department of telecom (DoT) today said it had done no wrong in 2G spectrum licence allocation in 2008, but cautioned the beneficiaries that action would be taken in cases of any misrepresentation of facts.

EPFO claim

New Delhi, Sept. 27: Retirement fund manager EPFO today sought tax exemption on the entire 9.5 per cent interest that PF subscribers earn and would request the finance ministry for necessary action.

SAIL-Posco

Bhubaneswar, Sept. 27: SAIL today said the agreement for a joint venture with Posco to set up a plant at a cost of Rs 15,000 crore would be ready within two months.

Unilever buy

London, Sept. 27: Unilever will acquire the US-based Alberto Culver Company for $3.7 billion in an all-cash deal, which will help the firm strengthen its global position in hair and skin care.

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