From Dnaindia.com: Investment deals are rare during the economic slowdown, and the media sector is no exception. So, the buzz that Temasek and India Equity Partners were together picking up more than 19% in the Lokmat group lifted many spirits.
But, not for long. Soon it was clear that the deal was off due to the prevailing “economic conditions”. Devendra Darda, executive director of the Lokmat group of newspapers, said that “both parties have mutually decided to call off the deal due to the current economic condition.”…. Full Article: Source