No Offence, Only A Friendly Bid: Sterlite Sterlite

Sterlite chief financial officer Tarun Jain, however, in an interview to Business Standard maintained that his companys bid was friendly. The proposal for strategic alliance still stands, he said.

Excerpts:

Hasnt the nature of the bid changed, now that you are interested in more than 20 per cent of Indals equity?

It is still a friendly bid. The situation does not change just because the minimum offer has been hiked to 20 per cent. We are still interested in a strategic alliance.

Alcan has said they dont see you as a strategic partner. How do you propose to convince them?

 

We have read statements like that in the media. But, we have not heard from them. The situation is still preliminary and the open offer is yet to open.

Are you in talks with the financial institutions to buy their stake?

We dont want to talk about our strategy right now.