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GE Shipping says not pursuing SCI for now

Great Eastern Shipping Company Ltd has decided not to pursue plans to acquire state-run Shipping Corporation of India, which is up for privatisation, due to continuing uncertainty on the timing of the sale, the Bombay Stock Exchange said on Thursday.

The company, however, said it will review the plans when financial bids are invited and if the timing and business conditions were conducive.

The government plans to sell a 51 per cent stake in Shipping Corporation.

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