Actor Shah Rukh Khan (pictured, right) is looking to sell the Kolkata Knight Riders IPL team, reports Business Standard. He has held talks with Nokia (NYSE: NOK), Sahara Group and billionaire Anil Ambani, the story says. If the Bollywood superstar sells out successfully–and at least an official from his own company (who is the source for the story, in the first place) believes he could net twice the Rs300 crore he paid for the team a year ago–it could tempt other owners, many of them movie stars, to sell out, too. The valuation will also be a function of supply–If the BCCI decides to increase the number of teams next year, the property may not attract premium valuation.
It’d be interesting to watch if Anil Ambani will buy into the IPL pie. The marathon-enthusiast tycoon has several media investments, and was reportedly interested in buying Newcastle United football team. Given that estranged brother Mukesh Ambani owns the Mumbai Indians IPL team, will we soon see intense cricketing action as a metaphor for sibling rivalry?
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Yahoo (NSDQ: YHOO) India has asked 60 staffers from its Bangalore R&D facility to leave, PTI reports. Yahoo recently said it will reduce global headcount by 5%.
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