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May 14, 2001 		Feedback  
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Bright Star hikes open offer for VST to Rs 118

Unlisted Indian firm Bright Star Investments Ltd has hiked its open offer price for VST Industries, an affiliate of British American Tobacco Plc, to Rs 118 per share from Rs 112, the lead manager to the issue said on Monday.

The new price tops an offer of Rs 115 per share made by another firm ITC Ltd, India's largest cigarette maker, and is likely to intensify the bidding war between the two companies.

Bright Star had in February launched a hostile bid to buy 20 per cent of VST at Rs 112 per share.

VST shares ended flat at Rs 118.10 on the Bombay Stock Exchange on Monday.

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