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'Will Partner Ambani If There's Threat from ITC'

  •   Mon, Apr 18 2011 04:39:33 PM

New Delhi, Apr 18 (PTI) The hospitality chain Leela Group Chairman C P Krishnan Nair, who is set to retire from active management this June, today said he will consider partnering Mukesh Ambani if there are hostile takeover threats from rival ITC.

"If at all, there is a threat from ITC, Mukesh is available...If at any point of time I want (a partner), Mukesh will be my ideal partner," Nair said.

He was responding to a query if the Leela Group was uncomfortable with ITC gradually increasing stake in his firm.

ITC has been slowly increasing its stake in Hotel Leelaventure Ltd. As of the quarter ended December 2010, ITC and its investment arm Russell Credit Ltd together hold 11.7 per cent stake in the company.

 

 


   

  

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