Astrazeneca's Indian unit surges on takeover media report

Reuters Market Eye - Shares in Astrazeneca Pharma India gain 3.8 percent after the Sunday Times newspaper reported Pfizer Inc has approached its parent AstraZeneca PLC to propose a 60 billion pound ($101 billion) takeover.

The British paper cited senior investment bankers and industry sources saying that informal conversations about a deal had taken place between the two, but that no talks were currently under way after AstraZeneca resisted the approach.

Pfizer and AstraZeneca both declined to comment on the Sunday Times report to Reuters.

Astrazeneca holds a 75 percent stake in its Indian subsidiary, BSE data shows.

(Reporting by Abhishek Vishnoi)