Govt puts Daimler commercial vehicle JV on hold
Govt has deferred approval to a proposal by German vehicle maker Daimler for a joint venture to make and sell commercial vehicles, a statement said on Wednesday.
By PTI |
NEW DELHI: Govt has deferred approval to a proposal by German vehicle maker Daimler for a joint venture to make and sell commercial vehicles, a statement said on Wednesday.
The proposal was for up to 60 per cent stake in such a JV, but it did not give details about the firm's investment or the local partner.
The statement said the government rejected UAE-based Thuraya Satellite Telecommunications Co's proposal to set up a JV for satellite mobile telephony, with upto 74 per cent foreign capital.
Thuraya provides mobile satellite services in more than 110 countries in Asia, Africa, Europe and the Middle East. Emirates Telecommunications Corp is its largest shareholder.
The proposal was for up to 60 per cent stake in such a JV, but it did not give details about the firm's investment or the local partner.
The statement said the government rejected UAE-based Thuraya Satellite Telecommunications Co's proposal to set up a JV for satellite mobile telephony, with upto 74 per cent foreign capital.
Thuraya provides mobile satellite services in more than 110 countries in Asia, Africa, Europe and the Middle East. Emirates Telecommunications Corp is its largest shareholder.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
