Quantcast

Market Chatter: Berkshire Hathaway Reportedly Eyeing 10% Stake in India's Kotak Mahindra Bank


Shutterstock photo

Berkshire Hathaway (BRK.A, BRK.B) is considering acquiring a 10% stake in India's Kotak Mahindra Bank, CNBC-TV18 reported Friday, citing sources familiar with the US-holding company's strategy.

Berkshire may invest between $4 billion and $6 billion in the lender either through buying promoter stake or via a preferential allotment.

The Reserve Bank of India has already asked Uday Kotak, the bank's billionaire head, to reduce his holding to 20% by the end of this year to ensure wider ownership. He proposed selling nonconvertible perpetual noncumulative preference shares to a group of investors in August. The central bank rejected that proposal.

Kotak Mahindra Bank refused to comment on the matter. Berkshire Hathaway could not be immediately reached for comment, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.




This article appears in: Investing , ETFs
Referenced Symbols: BRK.A , BRK.B



More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities










Research Brokers before you trade

Want to trade FX?