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:

Reuters Showcase

Uber's Woes

Uber's Woes

Uber, other taxi-hailing apps hit new roadblock in Delhi.  Full Article 

Transfer Pricing

Transfer Pricing

India's Vodafone decision eases tax worries for Shell, others.  Full Article 

Facebook Earnings

Facebook Earnings

Facebook tops Wall Street revenue target in 4th quarter.  Full Article 

Governance Reforms

Governance Reforms

IMF sets June deadline for progress on governance reforms.  Full Article 

Fed's Stance

Fed's Stance

Fed upbeat on U.S. economy, cites strong job gains.  Full Article 

Tumultuous Run

Tumultuous Run

McDonald's CEO Don Thompson leaving.  Full Article 

Samsung Results

Samsung Results

Samsung Elec's smartphone primacy under threat from Apple after weak Q4.  Full Article 

Reuters India Mobile

Reuters India Mobile

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