Categories: Business

uday kotak not averse to takeover of weak businesses during corona crisis

Photo: PTI

Uday kotak

New Delhi, 14 June (Language) Newly appointed chairman of Confederation of Indian Industry (CII), Uday Kotak, has said that it is considering the acquisition of weak units by financially strong companies in the interest of investors amid the Kovid-19 crisis. Are not against Kotak said investors have already suffered a major setback due to the epidemic. So why should an investor be prevented from selling his investment. He said that the decision on this should be left to the investor.

However, he added that for strategic reasons, the government should take steps to protect domestic companies from market spoiler acquisitions by investors from some countries. Kotak said, "If this money is coming from countries with which there is a strategic issue, then it is a completely different matter. Even the US wants to protect some of its strategic areas from some countries for some reasons. So I would say this is a completely different reason. "As far as acquisitions by domestic investors are concerned, Kotak said," We have to look at the interests of both sides. In the same way, the present management has an interest which is struggling with the crisis, while the other side is of the poor performance of the investors' wealth. , While its current price is only Rs 30, it should be allowed to go out. ''

He said that we have to see things through investor specs. Industries around the world have been affected by the Kovid-19 crisis and a sudden drop in demand. The crisis has given more affluent companies the opportunity to acquire at significantly lower valuations of firms in crisis.

This post was published on June 14, 2020 7:35 pm

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