Power Finance Corporation (PFC) Chairman and Managing Director Rajeev Sharma on Monday dismissed speculations on the value of the merger deal with the Rural Electrification Corporation (REC).
While the deal is expected to be closed by the end of the current fiscal, the transaction price has not been finalised yet and price determination is under way, Sharma said in a media conference in Mumbai.
“On the pricing front, there are lot of speculative numbers floating in the market, but PFC would like to state that the transaction price has not been finalised yet and price determination is under way,” he said.
Sharma said PFC has received all regulatory approvals required for the deal, including those from SEBI, the Competition Commission of India and the RBI.
