The Telegraph
Since 1st March, 1999
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Business Briefs

Nasdaq stake in LSE

London, April 11: The Nasdaq Stock Market has become the London Stock Exchange's biggest shareholder after it bought a 15 per cent stake for about '448 million. It has bought the entire shareholding of Threadneedle Asset Management Ltd at a price of '11.75 a share. A spokesman for Nasdaq said the move was 'a very strategic purchase'. Only last month Nasdaq dropped a proposed '2.4-billion cash offer for LSE, Europe's largest stock market.

UTI branch

Mumbai, April 11: UTI Bank today opened its first overseas branch in Singapore. The branch would initially offer corporate banking and trade finance products, syndication and investment banking and liability business.

Essel Propack

Mumbai, April 11: Essel Propack has acquired Singapore-based Avalon Medical Services and US-based Tacpro Inc. Essel acquired the two companies through its wholly-owned subsidiaries, Lamitube Technologies Ltd in Mauritius and Lamitube Technologies (Cyprus) Ltd.

Landmark buy

New Delhi, April 11: The Dalmia Group's Landmark Holdings, along with its international affiliate Banyan Real Estate, has acquired a 16.5 per cent stake in Vipul's Rs 1,200-crore proposed special economic zone project in Gurgaon.

Nasscom chief

New Delhi, April 11: Chairman of Satyam Computer Services B. Ramalinga Raju today took over as chairman of National Association of Software and Services Companies (Nasscom). He will head the body in 2006-07.

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