Carlyle’s PNB Housing dilemma and Akasa’s untenable ULCC model
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Editor's note: This is the thirteenth edition of Street Smart, The Morning Context’s weekly newsletter on everything that impacts corporate India. Every Thursday, Street Smart will bring you an original, reported or analytical take on issues that have the potential to shake up the business ecosystem Jayshree here. A high-profile deal has run aground and no one quite knows how to break free. Carlyle’s seemingly doomed pursuit of PNB Housing Finance now has repercussions for how valuations are done. Two more deals could find themselves in a soup. Advait and I take a deep dive. Akasa, on the other hand, isn’t suffering from any starting trouble. The airline, backed by ace investor Rakesh Jhunjhunwala, may be set for a smooth take-off. But, asks Prince, can Akasa be the ultra low cost airline it promises to be? Read on. A deal that’s dead in the water It's high time we addressed a so-called stuck takeover, the result of a bizarre judgement which was supposed to end a stalemate but has only prolonged it for the foreseeable future. No, we are not talking about …
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