BUDGET 2000
SPECIALS
INTERVIEWS
COMMENTARY
GOVT&ECONOMY
Y2K: BIZ FEATURES
INDIA & THE WTO
CREDIT POLICY
BIZ IN THE USA
CARS & MOBIKES
MANAGEMENT
CASE STUDY
BIZ-QUIZ
USEFUL INFO
ARCHIVES
NEWSLINKS
SEARCH REDIFF

Zee Telefilms to be listed on NYSE

Media and entertainment giant Zee Telefilms Limited, or ZTL, will be listed on the New York Stock Exchange, NYSE chairman Richard Grasso, said in Bombay.

Grasso said that the ZTL chairman Subhash Chandra had spoken to him about the company's likely listing on the NYSE.

The listing will take place within the period of next three months, Grasso added.

"I was really surprised when Subhash Chandra expressed his willingness to list ZTL on NYSE," Grasso said.

ZTL will be the third Indian company to be listed on the NYSE. Two Indian companies, ICICI and ICICI Bank, are already listed on the exchange.

Grasso said that telecom giants VSNL, MTNL, HCL Technologies, Silveline Tech and few more companies have already announced their plans of listing on the NYSE and at least 40 Indian companies likely to be listed on the NYSE during the time of a year.

Alain Yves Morvan, senior vice-president, international relations, said that besides the corporate world the NYSE is also looking for agreements with the leading local bourses like the Bombay Stock Exchange and the National Stock Exchange.

"We are currently engaged in dialogue and nothing has been finalised in this regard," Alain said.

The representatives of BSE, NSE and the Securities and Exchange Board of India, or SEBI, had already visited NYSE recently and held talks in this regard, he said.

Alain ruled out any possibility of NYSE's merger with NASDAQ and said that the NYSE had a marketshare of 83 per cent in US, as against 10 per cent of NASDAQ.

UNI

Business