After failing in their attempt to get the Indian Government to “bully” i-flex shareholders, Oracle Corporation has decided not to come out with any more open offers to buy back i-flex shares.

They are keen to get the company delisted from the Indian markets, and have indicated in a filing with the SEC that only a price below Rs. 2100/share would be a feasible proposition.

Oracle have been trying to get the GOI to pressurize the remaining shareholders to surrender their shares, but the GOI is not willing to play ball yet, as this would require the SEBI takeover code to be amended yet again.

 



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