MARKET EYE-India's Videocon surges on Mozambique block sale plan

Thu Feb 21, 2013 11:47am IST

Related Topics

Stocks

   

* Shares in India's Videocon Industries Ltd gain 8.6
percent after the consumer electronics and oil company says it
is in talks to sell its 10 percent stake in an oil and gas block
off the coast of Mozambique and Tanzania.
* Videocon Chairman Venugopal Dhoot tells TV channel ET NOW the
company was in talks with multiple potential buyers, including
Oil and Natural Gas Corp Ltd, for its Rovuma gas
field, confirming earlier media reports.
* Dhoot says Videocon has appointed Standard Chartered Plc
 as an adviser for the sale.
* Videocon's board had approved splitting and selling its oil
and gas assets in August 2012.

 (abhishek.vishnoi@thomsonreuters.com /;
prashant.mehra@thomsonreuters.com)
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

Factory Activity

Factory Activity

Factories expand at slowest pace this year in September  Full Article 

Videocon d2h IPO

Videocon d2h IPO

Videocon d2h files for up to $113 million IPOs  Full Article 

Asian Economy

Asian Economy

Asian factories slow in Sept, push inflation ever lower  Full Article 

EBay Divests PayPal

EBay Divests PayPal

EBay follows Icahn's advice, plans PayPal spinoff in 2015  Full Article 

New 'Windows'

New 'Windows'

Microsoft names next operating system 'Windows 10'.  Full Article 

Reuters India Mobile

Reuters India Mobile

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