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
Asia-Pacific aviation: is up really the only way?
Russia’s ‘pivot to Asia’ takes a turn as it prioritises ties with isolated regimes over bigger economies
Why disciplined stewardship matters when managing wealth in uncertain markets
More than 15,000 sign up for national accounting body’s AI programme in two months
