Li Keqiang's India Visit
With wary eye on the U.S., China courts India
Chinese Premier Li Keqiang, smiling and effusive, was out to smooth ruffled feathers in India this week, promising to ease tensions and increase trade between Asia's fastest growing economies in his first trip overseas since taking office. Full Article | Slideshow
REUTERS SHOWCASE
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
Schroders in talks for stake in Axis AMC - report
Track Markets: BSE Sectoral Indices
Track and analyse performance of all BSE sectoral indices and other global indices on a single page. Full Coverage
REUTERS - Schroders Plc (SDR.L) is in talks to acquire an almost 30 percent stake in Axis Asset Management in a deal worth around 1.3 billion rupees, two newspapers reported on Wednesday citing unnamed sources.
A senior management team from the London-listed company, which manages assets worth around $290 billion, will visit Mumbai next week to finalise the deal with the mutual fund founded by Axis Bank (AXBK.NS), the Business Standard reported.
A spokesman for Axis or Schroders could not be reached by Reuters.
The acquisition would allow Schroders to sell its products in India, and grant Axis access to the London-listed company's global network.
Schroders had applied to Indian regulators for permission to set up a mutual fund business and received a license last year, the Economic Times said.
(Reporting by Henry Foy in MUMBAI; Editing by Ranjit Gangadharan)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters