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ITC board not for hotels merger

KOLKATA, AUG. 25. The ITC board at its meeting held today approved the amalgamation of its subsidiaries — ITC Hotels Ltd and Ansal Hotels Ltd — with itself. The ratio has been fixed at three shares of ITC for every 25 of ITC Hotels and one share of ITC for every 150 shares of Ansal Hotels, an ITC release said.

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