Govt near accepting Fairfax's new bid for IDBI Bank, says report
The government is nearing approval of a proposal from Fairfax India Holdings, led by Canadian billionaire Prem Watsa, to acquire a stake in IDBI Bank, potentially at a marginally higher valuation, according to a Bloomberg report. This new offer was submitted by Fairfax after a previous bidding attempt fell through earlier this year due to disagreements over the bank's valuation. Additionally, senior government officials conducted multiple high-level discussions regarding this issue on July 13.
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