IL&FS Investsmart clarifies on news item
With reference to the news item appearing in a leading web portal titled “E*Trade looking to exit IL&FS Investment”, IL&FS Investsmart Ltd has clarified to BSE that pursuant to the sub prime crises in the United States, the Company have read in market publications that E*TRADE Financial Corporation is facing a liquidity crunch and is exploring options to infuse liquidity. The Company also understand from international media that over past few months E*TRADE has been amidst discussions with various parties including private equity players, Banks and Strategic Investors for divestment of its investments, including its stake in the Company.
Further the Company have been receiving queries from various parties on this matter and have request them to directly dialogue with E*TRADE and have provided with any clarification that may be requested.
At the current juncture, the Company are not aware of any understanding entered in to by E*TRADE with any specific party related to the Company.
Tags: IL&FS Investsmart