date:Sep 11, 2013
, the investment is still sound, Huet said of the deal, valued at 191.74 billion rupees, or 2.49 billion euros at the time.
Financially it's absolutely intact, but the real reason why we're doing it is long term, he said. That was not a very value-creating exercise, because you buy a stake without taking costs out, synergies which usually support the premium ... so it really is a bet on the long-term.
In India, Huet said the collapse of the rupee had dented business self-confidence.
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