MUMBAI, Oct 19 (Reuters) - Shares in Indian Hotels Company
Ltd, controlled by the Tata Group conglomerate,
dropped as much as 3.8 percent in the early trade on Friday,
after the company made an unsolicited $1.2 billion bid for
luxury hotels group Orient-Express Hotels.
Indian Hotels, which said it was rebuffed by Orient-Express
in a recent approach to take a "significant" stake in the
company, on Thursday offered $12.63 per Orient-Express share, a
40 percent premium.
Indian Hotels shares were down 3.3 percent at 68 rupees at
0347 GMT, while the main Mumbai market index was down
(Reporting by Sumeet chatterjee in MUMBAI; Editing by Anupama