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ITC Hotels merger proposal

MUMBAI, AUG. 13. ITC is planning to merge some of its subsidiaries including ITC Hotels with the company as part of its plans to consolidate business operations. The board will meet on August 25 to consider the proposal to amalgamate Ansal Hotels and ITC Hotels and its wholly-owned subsidiary Bay Islands Hotels, the Kolkata-based company informed the National Stock Exchange today.

ITC now holds over 70 per cent stake in the hotel company, according to latest shareholding data available with the NSE.

PTI

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