M&A Magazine

In what seems to be last attempt, government has finally decided to revive by merging the two loss-making state-owned telecom companies Bharat Sanchar Nigam Ltd ( BSNL ) and Mahanagar Telephone Nigam Ltd ( MTNL ) . The two telecom companies have been bleeding and their subscriber base dwindling as competitors such as Bharti Airtel, Vodafone Idea and Reliance Jio had rolled out pan India 4-G services and cut prices on voice and data. MTNL , which is largely present in cities such as Delhi and Mumbai, will act as a unit of BSNL until the merger is completed. While MTNL is listed, BSNL is not listed. The two companies have a total debt of Rs 40,000 crore. The merger bill will be about Rs 70,000 crore which includes voluntary retirement scheme (VRS), capital infusion, goods and service tax and bond guarantee. The Centre will raise Rs 15,000 core through sovereign bonds to strengthen the two-state run telecom companies and the government will monetise telecom a...

The BK Birla group-controlled Mangalam Cement Ltd and Mangalam Timber Products Ltd have been merged to attain value of scale. The consolidation will help in efficient utilization of their resources, reduction in overheads and other expenses and improvement in other parameters. Mangalam Timber Products Limited (MTPL), a listed company primarily engaged in the manufacture of Medium Density Fibre Board (MDF) and sells its products under the brand name “DURATUFF”. MDF is used in making furniture, Particle board, Doors and all kind of carpentry all kinds of carpentry work. Mangalam Cement Limited (MCL), a listed company having registered office in Kota Rajasthan. A well-established cement manufacturing company having two cement manufacturing plants located at Morak, Rajasthan and Aligarh, Uttar Pradesh producing Ordinary Portland Cement (OPC) and Portland Pozzolana Cement (PPC) and marketed under the brand name of "Birla Uttam" . MCL has also set up two Captive Thermal Po...