Indian Hotels expects Orient-Express to respond to bid in 3 wks
MUMBAI Oct 19 (Reuters) - Indian Hotels Co Ltd expects to get a response from Orient-Express Hotels Ltd on its takeover bid within the next three weeks, a company executive said on Friday.
"We are expecting the board to get back to us as soon as they are okay with it," said R. K. Krishna Kumar, vice chairman, Indian Hotels. "Three weeks is an estimate. We are hoping we would get a response by then."
Indian Hotels, controlled by the Tata Group conglomerate, made an unsolicited $1.2 billion bid for luxury hotels group Orient-Express on Oct. 18, five years after its first offer to buy the company was rebuffed.
- Special Report: Thailand secretly supplies Myanmar refugees to trafficking rings |
- The 10 Most Corrupt and Least Corrupt Countries in the World
- NSA gathers data on cellphone locations globally: report
- China's airspace zone has caused apprehension: Biden |
- China central bank warns banks against use of bitcoin