Web Sify
Follow us on
Mail
Print

Indian Hotels expects Orient-Express to respond to bid in 3 weeks

Source : REUTERS
Last Updated: Fri, Oct 19, 2012 13:03 hrs
An inside view of Exclusive suite of the heritage wing of the Taj Palace Hotel in Mumbai

Indian Hotels Co Ltd expects to get a response from Orient-Express Hotels Ltd on its takeover bid within the next three weeks, a company executive said on Friday.

"We are expecting the board to get back to us as soon as they are okay with it," said R. K. Krishna Kumar, vice chairman, Indian Hotels. "Three weeks is an estimate. We are hoping we would get a response by then."

Indian Hotels, controlled by the Tata Group conglomerate, made an unsolicited $1.2 billion bid for luxury hotels group Orient-Express on October 18, five years after its first offer to buy the company was rebuffed.


More from Sify:
blog comments powered by Disqus
most popular on facebook
talking point on sify finance