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IL&FS revival plan could include stake sales - government official

Reuters  |  NEW DELHI/MUMBAI 

By Manoj Kumar and Promit MukherjeeNEW DELHI/MUMBAI (Reuters) - The new board of debt-laden Infrastructure Leasing and Financial Services (IL&FS) will come up with a revival plan for the lender that could include selling stakes in some of its businesses, an Indian government official said.The official, who declined to be named, ruled out any budgetary support for IL&FS, an infrastructure financing and building company, which has 348 businesses and debts of 910 billion rupees ($12.39 billion). State-owned firms own nearly 40 percent of the company. In a court-led process, the government this ...

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First Published: Mon, October 22 2018. 18:52 IST
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