Rediff.com one of the India's Leading internet portal and one of the companies listed in NASDAQ. This indeed is result of globalisation of internet business, with India being one of the hot and fast growing economy with fast penetration of telephone and internet networks.
As the Hindustan Times reports....
Leading US-based investment journal Barrons reported this month that Rediff is seeing speculation that it could be a takeover target. Rediff’s stock has witnessed a sharp jump in share price and volume on Nasdaq over the past week, when it also launched a Website to help consumers upload voice, video and photographic content for free.
The company's stock moved up to $25.41 per share on July 13 from $17.94 on July 5 and. The trading volume has increased to more than a million shares from an average of 50,000 share a day. In fact, on July 12, Rediff shares closed at $26.46 and more than 3.3 million shares traded hands. The company has a current market capitalisation of $738 million.
The sources said if the deal comes through, the valuation may be close to a billion US dollars.
The Barrons report quoted Ashish Thadani, an analyst at Gilford Securities, as saying that Rediff could fetch more than $ 25 a share in a sale and could see other suitors besides Yahoo and Google
Other suitors could possibly include AOL (America On Line), a division of Time Warner, which has a strong presence in offshore services from India, but is not a significant player in the market. Microsoft's MSN portal is also keenly stepping up its presence in the Indian market.
Courtesy: Hindustan times Article
So who'll it be! Yahoo, Google, AOL or MSN ??
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Monday, July 16, 2007
Google, Yahoo! eyeing Reddif.com
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1 comment:
Time to own few shares of rediff as soon as possible before the news becomes history!
More then that probably join the team @ rediff and bag handful of shares
Pretty good coverage Anil!
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