Videocon up over 5% as auction makes headway
The stock was 4.74 per cent up at Rs 3.76 on the BSE at 11.05 am today
By ETMarkets.com |
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NEW DELHI: Share prices of Videocon surged 5 per cent on Wednesday after ET reported that Chinese home appliances maker Haier and global investment firms Blackstone and Goldman Sachs are among its suitors.
They are reported to be weighing offers to buy the company’s consumer electronics business valued at close to $2 billion.
Quoting those in the know, all three prospective suitors have reached out to Videocon’s lenders either through their financial advisors or directly.
The stock was 4.74 per cent up at Rs 3.76 on the BSE at 11.05 am today.
A formal auction process for sale of the electronics business formally kicked off on Tuesday.
Spokespersons for Haier, Goldman Sachs and Blackstone declined to comment on the story.
They are reported to be weighing offers to buy the company’s consumer electronics business valued at close to $2 billion.
Quoting those in the know, all three prospective suitors have reached out to Videocon’s lenders either through their financial advisors or directly.
The stock was 4.74 per cent up at Rs 3.76 on the BSE at 11.05 am today.
A formal auction process for sale of the electronics business formally kicked off on Tuesday.
Spokespersons for Haier, Goldman Sachs and Blackstone declined to comment on the story.
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