Infosys seeks acquisition approval

Infosys seeks acquisition approval

MUMBAI, FEB 15: Software firm Infosys Technologies Ltd has sought blanket approval from the Reserve Bank of India (RBI) for overseas acquisitions, the Bombay Stock Exchange said on Tuesday.

The BSE quoted Infosys as saying: "We have made this application in response to the guidelines issued by the Ministry of Finance for overseas business acquisitions by Indian software companies through American Depository Receipts or Global Depositary Receipts, stock swaps dated December 27, 1999."