"We were discussing with IDFC to create an idea which would, if implemented, result in a significant value creation for the shareholders of the Shriram group as well as the IDFC group. We were not able to come to the conclusion about the deal of that kind within the time frame which was set by ourselves earlier," Thyagarajan told BTVi in an interview.
He also said now the time frame is indefinite.
"We are not able to work out a deal within a time frame... what is now happening is that the exclusivity period is over. So we are not saying that the exclusivity period means that we do not talk to anybody else in the meantime...it does not mean that we will not talk to each other and we will not work out a deal in future. If it happens and it will be good for everybody," he said.
According to him, both parties continue to explore the possibility of again working together.
He also said differences in valuation were not the only issue as the possible merger falling through.
"There were three or four critical issues... on each one of them there has to be agreement between the two parties," he added.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
About VDC
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.