Indian business tycoons have no regrets with big buys
Tuesday, 17 November 2009

Ratan Tata, who bought the Land Rover and Jaguar brands, and Rupert Murdoch and Carlos Slim, who bought or invested in US newspapers, said on Monday that they have no regrets with their purchases.

"No, it's been a very difficult time," said Ratan Tata, the head of Tata Motors Ltd, India's largest vehicle maker. Tata bought Jaguar and Land Rover from Ford Motor Co last year.

At the Wall Street Journal CEO Council conference, Tata said he hopes the brands will be restored to their previous glory.

In a discussion focused on whether or not they have regrets, global business tycoons Rupert Murdoch, News Corp's chief executive, and Carlos Slim, who built a telecommunications empire and other big businesses in Mexico, denied any such feelings.

"I have no regrets about the Wall Street Journal," Murdoch said.

As the newspaper industry faces layoffs and drops in advertising revenue and circulation, the Wall Street Journal said in October that it will close its Boston bureau to save money.

Slim backed the New York Times, in which he is a major investor, and said the newspaper industry is not just about the paper.

"It's about news and content," he said. "I think it (the Times) is one of the best newspaper brands in the world."

Source: bdnews24.com

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