Nearly a year after ACC and Ambuja Cements set up a committee of directors to explore a merger, ACC informed exchanges that they are currently not pursuing merger with Ambuja Cements. ACC said that there are constraints in implementing the merger currently but the merger with Ambuja remains the ultimate objective.
In an interview with CNBC-TV18, Chairman of Ican Investment Advisors, Anil Singhvi - also the Former MD and CEO of Ambuja Cements discussed this development.
I don’t think there is a competition commission issue here or even a transfer of mine, he said.
According to me, there is a bigger design to frustrate the minority shareholder, he added.For full interview, watch accompanying video…