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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (10231)	12/22/1999 3:44:00 PM
From: Mohan Marette	Read Replies (2) \| Respond to of 12475

Another offer for Global Tele's stake from Multinational gtl.co.in MNC eyes 3% in Global GLOBAL Telesystems today approved a proposal to sell 5 per cent stake in group company, Global E-Commerce Services, to a consortium of buyers. Immediately after that, it received yet another offer from a multinational telecom company to buy another 3 per cent stake; at a much higher price. When asked for a confirmation about the offer, Global Tele vice-chairman Manoj Tirodkar said that he could not discuss the matter now. "The offer has to be first discussed in the board meeting, only then can I talk to you," he told ET. It is reliably learnt that the new deal being offered to Global Tele would be in the range of Rs 170-200 crore. Wednesday's deal for 5 per cent stake to an unidentified consortium was worth Rs 180 crore. On the basis of Rs 250 per share, GECS has been valued at about $1bn. economictimes.com