• Most Popular
  • Most Shared

Accenture recommends Kingfisher, Deccan merger-report

Mon Dec 17, 2007 11:04pm EST

Stocks

   

MUMBAI, Dec 18 (Reuters) - Consulting firm Accenture (ACN.N) has recommended the merger of India's Kingfisher Airlines and discount carrier Deccan Aviation Ltd DECA.BO, the Economic Times newspaper reported on Tuesday.

The modalities of the deal will be decided by a financial consultant to be appointed by the UB board, the newspaper said.

A spokesman for Kingfisher Airlines, which is controlled by United Breweries (Holdings), declined immediate comment.

"The board is scheduled to meet late on Wednesday evening to consider the Accenture report," a Deccan Aviation spokeswoman told Reuters, but did not disclose any other details.

Earlier this year, UB group firm United Breweries (Holdings) Ltd (UBHL.BO) bought 26 percent in Deccan Aviation. Later, UB group made an open offer after which it increased its stake in Deccan Aviation to 46 percent.

(Reporting by Narayanan Somasundaram and Arpan Mukherjee; Editing by Sunil Nair )

((arpan.mukherjee@reuters.com; +91 22 6636 9058; Reuters Messaging: arpan.mukherjee.reuters.com@reuters.net)) Keywords: KINGFISHER DECCAN MERGER/

(C) Reuters 2007. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nBOM45645


More from Reuters

Photo

Saab says bid deadline dropped

AMSTERDAM (Reuters) - General Motors has extended a December 31 deadline for bids for its Swedish car brand Saab, which will restart some production lines in January after a shutdown, Saab said on Wednesday.

» More Top News
Maria Montero carries plastic products for quality control inspection at Blow Molded Plastics in Pawtucket, Rhode Island November 17, 2009. REUTERS/Brian Snyder

Learning to survive and thrive

Small manufacturers in states like Alabama are taking a risk on innovation to compete with with low-cost competition. It's working. The second installment in a three-part report.  Full Article 

Route to Recovery
Disgraced financier Bernard Madoff is escorted by police and photographed by the media as he departs U.S. Federal Court after a hearing in New York, January 5, 2009. REUTERS/Lucas Jackson

I beg your pardon ...

Bernie Madoff became the poster boy of crooked investment schemes this year -- but he wasn't alone. Here's a look at the 10 most notorious cases of 2009.  Full Article 

Corporate Crime