Videocon vies for Deccan Chargers

Bidding process to be completed in a week.

Deccan Chargers: Knackered and knocked out!


NEW DELHI:
Indian electronics company Videocon has expressed interest in buying Deccan Chargers after its owners invited bids for the cash-strapped IPL franchise.

"Yes, we are interested and will place our bids for buying out Deccan Chargers," Group chairman Venugopal siad to a National daily on Friday.

"It's a good fit for our brand and will be used to connect to our consumers."

Videocon had earlier bid for the Pune franchise in the 2010 auctions but lost out to the Sahara Group, which bid $370 million - the highest purchase price for an IPL team to date.

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The Chargers franchise is valued at $240 million.

The owners, Deccan Chronicle Holdings Limited, had earlier run into trouble by failing to pay its players for the 2012 season, and speculation was rife that an imminent sale was on the cards.

The bidding process is likely to be completed by next Friday.

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