IHH puts Fortis takeover on hold; clarifies no collusion with Singh brothers
Add BT as a preferred source
Fiona Lam
MALAYSIA'S IHH Healthcare on Monday said that its open offers for cash-strapped Indian hospital chain Fortis Healthcare and the latter's subsidiary, Fortis Malar Hospitals (FMH), will not proceed for the time being.
This is in light of the Nov 15 judgment passed by India's Supreme Court which included a notice of contempt issued to Fortis and others.
The country's top court last week held Fortis' founders - Malvinder Singh and Shivinder Singh - guilty of contempt of court, and said it could start similar proceedings against the company.
TRENDING NOW
Tiger Brokers, Moomoo, Longbridge Singapore units ‘financially independent’ amid China crackdown: MAS
Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned
Johor property old hand KSL readies family handover amid market boom
As India and China surge ahead with nuclear energy, all eyes on Asean’s next move
