Unitech Ltd has announced that various unfounded reports are appearing in news relating to exercise of put option by Lehman Brothers' realty fund with respect of its investment in Unitech's reality project in Mumbai.
The Company has received no notice of the exercise of any put option in respect of Lehman Brothers' investments in any of its projects. Therefore, such news regarding exercise of put option by Lehman Brothers is incorrect and without any substance, and is denied.
Any arrangements in respect of investments by Lehman Brothers' entities in any of Unitech's projects are subject to obligations of confidentiality and it would be inappropriate for the Company to comment further
India Infoline Research Team / 08:49, Aug 21, 2014
The outlook is a flat open. Global indices are up. The minutes from the Federal Reserve's July meeting indicate that the Fed is in no hurry to raise interest rates. The Dow added 0.35% while S&P was up 0.25%. Nasdaq ended marginally lower. Asian indices are mixed with Nikkei up almost a percent while Hong Kong's Hang Seng index is lower. South Korea's Kospi index and China's Shanghai index are also in the red.