Indian Hotels to decide on Orient-Express bid this fiscal year

MUMBAI Mon Feb 11, 2013 10:11pm IST

An inside view of the 'Exclusive suite' of the heritage wing of the Taj Palace Hotel in Mumbai August 11, 2010. REUTERS/Danish Siddiqui/Files

An inside view of the 'Exclusive suite' of the heritage wing of the Taj Palace Hotel in Mumbai August 11, 2010.

Credit: Reuters/Danish Siddiqui/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - Indian Hotels Co's(IHTL.NS) board will decide whether to proceed with a bid for Orient-Express HotelsOEH.N in the current fiscal year ending March, a top company executive said on Monday.

U.S.-listed Orient-Express rejected a $1.2 billion takeover offer from Indian Hotels Co in November last year, saying it was too cheap.

The company cannot leave the offer open for an indefinite period, Anil Goel, executive director finance, told a news conference.

The company earlier reported a forecast-beating 28 percent rise in quarterly net profit to 646.2 million rupees. (Read results story here)

(Reporting by Aditi Shah; Editing by Alison Birrane)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Canada Shooting

Canada Shooting

Attack on parliament, killing of soldier stun Canada's capital.  Full Article 

Earnings Season

Earnings Season

Wipro sees rosier end to year as U.S. clients spend.  Full Article 

Business Climate

Business Climate

Fears for tough penalties grow as India cleans up business  Full Article 

New Email Service

New Email Service

Google launches new email service dubbed "Inbox".  Full Article 

DLF Appeals

DLF Appeals

DLF seeks interim relief from capital market ban  Full Article 

Falling Oil Prices

Falling Oil Prices

Indian consumers respond to softer oil, food prices  Full Article 

Book Keeping

Book Keeping

RBI fires warning shots on companies' lack of FX hedging.  Full Article 

Policy Repo Rate

Policy Repo Rate

Most external members suggested rate cut in RBI's Sept review.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage