This repurchase and cancellation will eliminate the
cross-holding of shares of the Listed Entity by Solutions and is taking place in advance of a capital raising by ADAMA.
After Tata Steel, the highest
cross-holding is by Tata Power: A 4.
The CEO reminded that the two entities have agreed to cooperate through closer collaboration and a
cross-holding of 8%.
This will make NBS an affil of Fuji TV and end the unbalanced
cross-holding that meant the much smaller radio web had a controlling share in the giant Fuji TV, one of Fujisankei's core holdings.
Yet amid the obvious unwinding of these
cross-holding relationships, management of poorly managed companies continue to wonder why the company's stock prices are so depressed, why analysts never come to visit them anymore, or why both domestic and foreign individual investors have dropped their stock from their portfolios.
He said: ``The inflated levels of gearing and
cross-holding in the sector of the market created a dangerous cocktail which the falling market exposed.
SPRON sold 12% of Kaupthing to Meidur, increasing Meidur's
cross-holding in Kaupthing to 21%, Reuters reported.
Two Caribbean newspapers have agreed to increase their
cross-holding of shares in each other.
When asked to comment by African Business on the state of play in the
cross-holding between the two companies, Tracey Peterson, De Beers spokesperson, reiterated that De Beers' equity in Anglo American plc is a core holding for the diamond miner.
As Nissan has strong
cross-holding ties with banks including the Industrial Bank of Japan and Fuji Bank, some 60 billion yen of the portfolio appraisal loss has stemmed from price falls in bank stocks.
The current Cable TV Rules and Uplinking/ Downlinking Guidelines for Broadcasters do not allow for any constraints on
cross-holding.
The Government of India on Thursday has offered its approval to the maiden
cross-holding transaction involving state-owned companies after a long gap which will facilitate the PSU entities - Oil and Natural Gas Corporation (ONGC) and Oil India Limited (OIL) - to acquire a 10% interest in Indian Oil Corporation (IOC).
