To check Oneindia News on your Mobile
go to:   http://m.oneindia.in/news/
  •  

Sunshine Holdings picks up ten per cent stake in VSNL Lanka

 [IST]
Mumbai, Dec 27 (UNI) Sri Lanka-based Sunshine Holdings PLC has picked up ten percent stake in leading communication provider wholly owned subisidary VSNL Lanka Limited at Rs 75 million.

The company has picked up 1,517,936 shares, representing 10 per cent of the paid up capital.

Sunshine Holdings PLC has interests in pharmaceuticals, travel&tourism, tea &rubber cultivation and managing portfolio investments.

Sunshine Holdings PLC has actively supported VSNL Lanka in its growth plans over the last few years. Vish Govindasamy MD of the Sunshine Group has been a director on the board of VSNL Lanka since its inception.

Sunshine Holdings PLC has the option to acquire an additional 5 per cent of VSNL Lanka's share capital in the next 12 months at fair market value.

Mr. Rajiv Dhar, CFO of VSNL said,''This partnership with Sunshine Holdings PLC will enable VSNL Lanka to capitalize on our partner's intimate knowledge of and experience in the Sri Lankan market. This is also part of our attempt to unlock value for our shareholders in an appropriate manner'' VSNL Lanka has been offering international voice and data services in Sri Lanka through an External Gateway Operator's licence since February 2004.

UNI
Topics: BUSINESS-VSNL-STAKES
Other articles published on December 27, 2007

Sensex ends up 24.20 points, closes at 20,301

Thursday, December 27, 2007,18:03 [IST]
Mumbai, Dec 27: The Bombay Stock Exchange's benchmark Sensex today closed with a marginal gain of 24.20 points at 20,216.20 amid bouts of alternate buying and selling in blue-chip index pivotals. The Sensex resumed with a positive gap of 108.53 points at 20,301.05 from its previous close of 20,192.52 following buying in key stocks in early trade. It landed in red to touch a day's low of 20,159.73 on profit booking by investors during the afternoon trade. However, Sensex.....
Read More

DHVBN completes HVDS in 100 villages

Thursday, December 27, 2007,18:03 [IST]
Chandigarh, Dec 27 (UNI) The Dakshin Haryana Bijli Vitran Nigam (DHBVN) has completed the work of erection of High Voltage Distribution System (HVDS) or Aerial bunched/Armoured /Shielded Cables Based Distribution System (ABCDS) in 100 villages under its 'Revenue Protection Project'. A DHBVN spokesman today said the Nigam was laying distribution system of international standard in villages under this prestigious project. In the villages having more than 300 houses, there would be HVDS while in the villages having up to 300.....
Read More

5 people arrested with 600 litres of synthetic milk

Thursday, December 27, 2007,18:03 [IST]
Mumbai, Dec 27 (UNI) The city police arrested five people for trying to supply synthetic milk to people at Khar Danda in the Western suburbs here today, and recovered 600 liters from their possession. According to police, the accused were arrested while they were trying to deliver the milk to customers this morning. Police officials suspect a big racket behind the sale of adulterated milk, and hope to find many more links with these arrests. UNI.....
Read More

Kandhmal limping back to nomalcy: CM

Thursday, December 27, 2007,18:03 [IST]
Bhubaneswar, Dec 27 (UNI) Orissa Chief Minister Naveen Patnaik today said the situation in Kandhmal, where communal clashes broke out between tribals and Christians, is slowly limping back to normalcy. speaking to newspersons here, after visiting the affected areas, Mr Patnaik said the situation there had been normalised and a peace committee had been formed in different places to restore and maintain peace and normalcy. When asked whether he would consider the demands of the Kui Samaj, the chief minister.....
Read More

Secretaries to be responsible if funds remain unspent: Marandi

Thursday, December 27, 2007,18:03 [IST]
Dumka, Dec 27 (UNI) Jharkhand Deputy Chief Minister Stephen Marandi today said departmental secretaries would be held responsible if funds allocated for developmental projects for this fiscal remain unutilised. Expressing concern over the slow expenditure of departmental funds in the state, Mr Marandi said in last nine months only 30 to 35 per cent money had been spent by various departments. Speaking at a function here Mr Marandi said, ''The departmental secretaries concerned would be held responsible if they.....
Read More
User Comments
[ Post Comments ]
Be the first to comment on this article.
Oneindia  Oneindia Login
People Talk
ISHWAR GOELonAkhilesh's wife Dimple Yadav to contest Kannauj LS bypoll
HarionCynical calculations behind petrol price hike
babu singhonLIC of India launches Jeevan Vriddhi policy
mpenduloonFacebook Video Chat: How to start, Tips & Tricks
bhavanaonBank trade unions threaten to go on 2-day stir in July

Video Gallery