MumbaiTata Trusts moved to keep Tata Sons private.
A public listing would force India’s largest conglomerate to open its finances to outside scrutiny.
The trusts propose merging Tata Sons with two units so its revenue and asset ratios fall below the central bank’s shadow-bank thresholds.
The Tata Sons board already voted this month to comply with the listing order, with Noel Tata the only dissenter.
Tata Sons’ board next decides whether to adopt the merger plan over the listing it already approved.
How each outlet framed it
drawn from 90+ reports worldwide
- Financial Times News
- details merger proposal with Tata Electronics (iPhone assembler, building $11bn chip plant) as alternative to RBI-mandated listing
Sources: Financial Times News