ITC Says Report of Merging Hotel Unit With EIH ‘Baseless’
ITC Ltd. isn’t planning a venture to combine hotel operations with EIH Ltd., spokesman Nazeeb Arif said in a phone interview today.
ITC, India’s biggest cigarette maker and a hotel operator, and EIH, which runs the Oberoi Hotels and Resorts chain, have drawn up a plan to combine their hotel operations, the Financial Express reported, without saying where it got the information.
The report is “completely baseless,” Arif said.
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