This year started with biggest takeover of a foreign company in the history of India when TATA steel took over Corus. Gone are the days when Indian companies were bought by foreign companies. The table has turned round and India is playing its cards well. Birla – Novalis and Suzlon – RE Power are other deals which have made the presence of Indian companies very prominent in global market. Money is pumping into India and one astonishing fact which came out during the year is that we witnessed more Private Equity fund (~ 10 billion) flowing into India than China (~ 8 billion).

It is time to say goodbye to 2007 and 2008 is knocking at the door. If everything goes fine, TATA group will once again mark the beginning of year with a takeover which will bring synergy for TATA Motors. The bidding for Ford’s Jaguar and Land Rover are already closed and TATA group is believed to be the front runner for the deal. TATA group is busy spreading its wing all over the globe and accordingly had shown interest in Orient Express hotels. As the management came to know of their interest in OEH, they made some unethical and unprofessional comments on the most trusted brand of India which create furore in media and corporate world. Orient Express rejected the proposal of TATA group out rightly by saying that the alliance will bring down their value and they don’t want to make alliance with any Indian hotel as they feel that it will wipe out their goodwill.

This humility of TATA group is unquestionable and such remark for a group which is the most ethical group in India, (Ethisphere Magazine Ranking ) third most accountable group in India (recognized by Britain’s One World Trust) and for a hotel which is ranked as the best Hotel in the world clearly shows that Orient Express needs to get its act together before making such comments. The remarks were strongly opposed by the group and even commerce minister, Mr. Kamal Nath has raised his voice against it. As TATA disclosed its interest in alliance with Orient Hotels, the management got excited and out of their anxiety, they made such comments for a group which has been always against hostile takeovers.

In response to the remarks made by the management of Orient Express, the Vice chairman of Taj Hotels, Mr. R K Krishna Kumar wrote a letter to President of Orient Express asking them to make an official apology on their website. There have been some reports in the media which has led to much confusion. The letter marked to President & CEO, Orient Express clarifies all such doubts and clearly shows that integrity of TATA group is unquestionable.

The views expressed are personal.

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