India's ITC extends slide on plan to keep hotel business stake post spinoff

  • 📰 Reuters
  • ⏱ Reading Time:
  • 9 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 97%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Shares of Indian conglomerate ITC shares fell as much as 3.3% on Tuesday, extending a slide from the previous session, as investors baulked at the company's plans to retain a 40% stake in its hotels business after spinning it off.

A man talks on his mobile phone as he walks past an ITC office building in Kolkata. Picture taken September 4, 2012. REUTERS/Rupak De Chowdhuri/File Photoshares fell as much as 3.3% on Tuesday, extending a slide from the previous session, as investors baulked at the company's plans to retain a 40% stake in its hotels business after spinning it off., separating it from its cigarettes and food units, but retain a 40% stake in the entity, with ITC shareholders holding the rest.

"We believe some investors may have preferred a vertical split ," Jefferies analysts said in a note, pointing to the cash-guzzling nature of the hotel business.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 2. in BE

Belgique Dernières Nouvelles, Belgique Actualités