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Sour taste

21 June 2021 By Una Galani

The U.S. buyout firm’s quasi-takeover of $1.7 bln PNB Housing was halted by regulators on a technicality. The cosy plan protected state owners and side-lined minorities after fairer options failed. It’s embarrassing for star backers like Aditya Puri too. A rejig will be pricey.

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