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

Healthcare Corruption

REUTERS SHOWCASE

Short of Expectations

Short of Expectations

Apple revenue lags Street's view despite strong China growth  Full Article 

Mircosoft Results

Mircosoft Results

Microsoft revenue rises, profit falls as Nokia absorbed  Full Article 

Deal Talk

Deal Talk

Exclusive - Lupin, U.S. firms weigh bids for GSK's mature drugs: sources  Full Article 

Relief For Sahara

Relief For Sahara

Supreme Court could allow Sahara boss to conduct asset sale talks, company says.  Full Article 

Classifying Banks

Classifying Banks

RBI to start announcing too-big-to-fail banks in Aug 2015  Full Article 

Food Scandal

Food Scandal

Starbucks, Burger King dragged in as China food scandal spreads.  Full Article 

Reuters India Mobile

Reuters India Mobile

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