The Hindu Business Line : Indo Matsushtia Carbon clarifies

This is with reference to "Japan major to hike stake in Indo Matsushita" (Business Line, August 27): The collaborators, Matsushita, already hold 51 per cent in the company since 1994.

Presently the said 51 per cent is being held by the holding company, that is, Matsushita Electric Industrial Co. Ltd., (MEI) 25 per cent and its subsidiary, Matsushita Battery Industrial Co. Ltd. (MBI) 26 per cent.

By the proposed inter se transfer of shares between these two companies, the holding of MEI will increase to 51 per cent and that of the subsidiary company MBI will become zero.

Accordingly, there will not be any change in the total holding of Matsushita in the company.

In other words, there is no hike in the stake of the Japanese major in our company.

S. Kalyanaraman,

Executive Vice-President,

Indo Matsushtia

Carbon Co Ltd.

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