India put Daimler commercial vehicle JV on hold

Newswire

NEW DELHI, Jan 30 (Reuters) - India has deferred approval to a proposal by German vehicle maker Daimler for a joint venture to make and sell commercial vehicles, a government statement said on Wednesday. The proposal was for up to 60 percent stake in such a JV, but it did not give details about the firm's investment or the local partner. The statement said the government rejected UAE-based Thuraya Satellite Telecommunications Co's proposal to set up a JV for satellite mobile telephony, ...

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