Thursday, December 10, 1998
PM highway proposal diluted
The government will merge the 7,000 km cross-country highway proposed by Prime Minister Atal Behari Vajpayee with the ongoing programme for multi-laning existing highways connecting the country's four metros. In addition, it will create extensions from the existing highways to create a multi-laned cross-country corridor.
AI-IA merger to create Rs 7,500 cr firm
The merger of Indian Airlines and Air India will create a Rs 7,500 crore holding company with accumulated losses of over Rs 2,500 crore based on fiscal 1998 balance sheet. The holding company will have a fleet of 78 aircraft and 36,000 employees.
Zeneca, Astra unveil Europe's mega merger
British and Swedish drug groups Zeneca Group Plc and Astra AB on Wednesday announced plans to join forces in Europe's largest ever merger. The two firms said they had agreed an all-share merger of equals to form Astra Zeneca, a company with a market capitalisation of $67 billion.
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