Tata-Corus deal in Time's top 10 in 2007
Tuesday, 18 December 2007, 02:37 IST
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New York: Indian business continued to make news around the world, with Tata's $11.3 billion takeover of Corus figuring in the Time magazine's top 10 best biz deals. The magazine said there was no more powerful symbol of Indian firms rise than this acquisition. The international magazine has placed the Tata-Corus deal at sixth position, ahead of private equity firm Blackstone's buying Hilton hotels for $26 billion and telecom giant Nokia buying navigation-software maker Navteq for $8.1 billion. Time said: "Ah, the delicious irony, as the Tata family conglomerate, India's steel giant, buys the Anglo-Dutch firm that includes the remnants of British Steel - at one time a symbol of Britain's imperial might." The magazine has topped its list by Rupert Murdoch-owned News Corp's s $5 billion buyout of media giant Dow Jones, which publishes the Wall Street Journal. The other notable deals that made it to the list include Google buying DoubleClick, RBS Consortium taking over ABN Amro, and aluminium giant Rio Tinto buying out Alcan.
Source: IANS
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