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Taro tells shareholders to keep Sun at bay
Ahead of its upcoming annual general meeting on December 31, 2009, Israeli drug company Taro Pharmaceutical has asked its shareholders to reject a takeover bid by Sun Pharmaceuticals.

Vavasi-led group appoints valuer for Zain telco deal
India’s Vavasi Group and Malaysia’s Al Bukhary Group have together appointed a merchant banker for conducting due diligence and fixing a valuation of Kuwait’s Zain Telecom. The two, along with BSNL and MTNL, the state-run telecom majors, have shown interest in jointly buying a 46 per cent stake in Zain.

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Reliance Big TV targets DTH VAS revenue of Rs 100 cr in 5 yrs
Reliance Big TV (RBTV), the direct-to-home (DTH) arm of Reliance Communications targets DTH value-added services (VAS) revenues of Rs 100-crore in the next 5 years period, a top company official said.
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RNRL renews attack

Anil Ambani-controlled RNRL told the Supreme Court today that Mukesh Ambani’s RIL had put it in a disadvantageous position in terms of price, quantity and tenure in their Gas Supply Master Agreement (GSMA). Resuming arguments on the Krishna-Godavari basin gas supply dispute, RNRL counsel Mukul Rohtagi contrasted the terms of the memorandum of understanding (MoU) in the Ambani family and the GSMA, which was “thrust” upon RNRL without any discussion or approval. On all counts, RIL had given a bad deal to RNRL, he said.


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