Mumbai:
Bank Brussels Lambert (BBL), which announced its plans
to hike its stake in Vysya Bank, "is in discussions
with G M Rao and associates to ascertain if we can acquire
the GMR Vasavi stake and how it can be done," says
Bart Hellemans, deputy managing director, Vysya Bank and
the BBL nominee to the banks board.
BBL, which is planning to acquire the controlling stake in Vysya
Bank, is "still studying the implications of the 10-per cent
cap on the voting limit," Hellemans says. BBL currently holds
a 20-per cent stake
in Vysya Bank and the markets have been in expectation of a move
by BBL to hike its stake since the government has permitted
foreign banks to hold up to 49 per cent stake in Indian banks.
"We
have just started discussions between Vysya Bank and the GMR
Vasavi group and it is too premature to comment on the
implications," says Hellemans. He says the move will not make
any impact on its life venture, ING Vysya Life Insurance, in which
Vysya Bank holds a 49-per cent stake, ING 26 per cent and the GMR
Vasavi group has a 25 per cent stake.
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