Tata Consumer share price falls 3% after denies report of buying stake in Haldiram’s
According to rumors, the consumer division of the Tata Group, Tata Consumer Products, is in discussions to acquire at least a 51% share in the Haldiram’s snack company. Tata reportedly claimed that Haldiram’s “ask” was “very high” and that the company wanted to be valued at $10 billion. Tata Consumer Products responded to the reports by telling CNBC-TV18, “We don’t comment on speculation.”
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Tata Consumer Products’ stock decreased by about 3% on Thursday after the business announced on Wednesday that there were no ongoing negotiations to acquire a 51% stake in Haldiram’s.
According to several media sources, the FMCG division of Tata Group was in negotiations with Haldiram’s to purchase at least a majority stake, but it was uneasy with the $10 billion valuation demand made by the biggest snack manufacturer and restaurant operator.
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