Fifa president Gianni Infantino faces mounting pressure to resign after leaked plans to sell a stake in the World Cup, sparking a rift between global federations and threats of boycotts.
India ramps up stake sales in state-owned companies, raising over $6.5 billion this year to combat fiscal deficits, macroeconomic headwinds, and capital outflows.
Shares of Life Insurance Corporation of India dropped nearly 9% as the Indian government opened an offer for sale to divest up to a 6.5% equity stake at a floor price of Rs 382 per share.
Carlos Cordeiro resigned as Gianni Infantino's senior adviser at FIFA, protesting a proposal to sell a World Cup stake, calling it "a bad deal for football." This adds to pressure on Infantino, who faces united opposition from major confederations like UEFA, Concacaf, and AFC, threatening his leadership.
FIFA has abandoned plans to sell a 20% stake in its events, including the World Cup, after strong opposition from UEFA, CONCACAF, and AFC, as well as internal dissent. President Gianni Infantino cited divisions as the reason for withdrawing the $US4.2 billion proposal.
UEFA's 55 member federations will boycott all FIFA competitions, protesting President Gianni Infantino's secret plan to sell 20% stakes in the World Cup's commercial operations to private equity, including a firm linked to Joshua Kushner.
Carlos Cordeiro, a senior advisor to FIFA President Gianni Infantino, resigned in protest over plans to sell a stake in the World Cup. European football, led by UEFA, threatened a boycott, while CONCACAF and AFC also rejected the controversial proposal, citing concerns about mortgaging football's future.
FIFA President Gianni Infantino abandoned a plan to sell stakes in the World Cup to private investors, including a firm linked to Joshua Kushner, following strong opposition from European nations, other confederations, and internal FIFA ranks, marking a significant defeat for Infantino.
FIFA has abandoned plans to sell a 20% stake in its World Cup operations for $US4.2 billion, following strong opposition from European, North American, and Asian football bodies, as well as internal dissent, including a senior adviser's resignation.
FIFA President Gianni Infantino has abandoned his plan to sell World Cup stakes for $4.2 billion in private funding, hours after senior adviser Carlos Cordeiro resigned, calling it a "bad deal for football." The proposal, which involved a subsidiary and private investors, had faced widespread condemnation.
British Prime Minister Andy Burnham has called for FIFA President Gianni Infantino to resign, citing his 'outrageous' plans to sell a stake in the World Cup to outside investors, a proposal also opposed by European football body UEFA.
FIFA's plan to sell a private stake in its tournament business, including the World Cup, has sparked a major confrontation with European football. UEFA's 55 member associations unanimously voted to boycott FIFA tournaments if the proposal proceeds, highlighting the expanding influence of US-style sports finance.
FIFA's plan to sell a minority stake in World Cup operations for $4.2 billion sparks outrage, with critics calling the $40 million offer to each supporting association 'pure bribery'
Thyssenkrupp AG and Jindal Steel International have paused discussions on a potential stake sale in the German company's steel unit. Thyssenkrupp stated that the original assumptions for the deal have significantly changed in recent months, citing significant progress in realigning its steel segment and a fundamentally more favorable regulatory environment in Europe that offers stabilization and growth potential despite high energy costs.
The Indian government is reviving the strategic sale of its 45.5% stake in IDBI Bank along with LIC's 49.2% holding, a month after two bids were rejected for being below reserve price. A fresh valuation exercise is underway given the bank's small free float making price discovery difficult. The Centre aims to expedite the process to maintain global investor trust and meet its Rs 80,000 crore disinvestment target, while addressing bidder concerns about pension burden and continued government stake.
