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MOTLEY COLLECTION OF BUSINESS AND ECONOMIC NEWS |
 Mallya buys French wine company
The UB group has signed an agreement to acquire the 150-year-old winemaker Bouvet-Ladubay, a subsidiary of French champagne group Taittinger for about euro 15m. UB group chairman Vijay Mallya said the deal will enable the company get into high-quality premium wine business, which was a hole in the UB group portfolio so far. UB will import wine from the French company in bottles as well as in bulk for the Indian market. The acquisition will also give the company access to wine technology. Founded in 1851, Bouvet-Ladubay, which is described as one of the most respected wine-producing firms in Europe, is located in the French Loire Valley region.
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 Skewed investment in India
MNCs may be making a beeline to India, but it seems most of them don't step out beyond Delhi and Mumbai. According to data put together by the Ministry of Company Affairs, out of 1,754 unincorporated foreign companies, 774 were in Delhi, while Maharashtra (read Mumbai and its surrounding areas) had 503. Karnataka (135), West Bengal (106) and TN (101) were the other three states with high concentration. Naturally, the four main metros were located here and companies clearly had a preference for them when setting up shop. Even unincorporated European companies showed the same trend. More than 70% (457 out of 623) of them are operating from Delhi and
Maharashtra.
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 Cell users up 4.2% in June
The mobile subscriber base in the country has grown by 4.24 per cent to 78.5 million in June 2006, from 75.3 million in May 2006. Bharti led the chart with 23.07 million subscribers, followed by BSNL (18.29 million) and Hutch (17.54 million), a Cellular Operators Association of India release said. Among the metros, Kolkata led the growth pack at 3.6 per cent, followed by Chennai at 33.2 per cent. Among all circles, Category C continued to witness the highest growth rate at 5.8 per cent, followed by B circles at 4.7 per cent and A circles at 4.4 per cent.
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August 2006
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