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Morning News Bulletin: Track Latest Stories

Fortis board opts for Munjal-Burman combines bid The board of Fortis Healthcare has recommended the binding offer of the Munjal-Burmans combine to the shareholders after 18 months of hectic parleys with several potential investors for the sale of its business. The board decided by majority to recommend the revised offer of Hero Enterprise Investment Office-Burman Family Office made on May 1 for an upfront equity infusion of Rs 800 crore at a price of Rs 167 per share through preferential allotment, Fortis Healthcare Ltd said in a late-night filing to the BSE. US President Donald Trump to meet North Koreas Kim on June 12 in Singapore US President Donald Trump yesterday announced that he will meet North Korean leader Kim Jong-un on June 12 in Singapore, the first-ever summit between the top leaders of the two Cold War rivals to discuss the denuclearisation of the Korean Peninsula. Trumps announcement came hours after US Secretary of State Mike Pompeo returned home from North Korea with three detained Americans. Trump, who personally greeted the trio at the Andrews Air Force Base, praised Kim for their release ahead of their summit. Karnataka voter I cards recovery: Highly-placed sources in the Commission said prima facie it seems that most of the voter I-cards recovered were genuine. But the reason as to why they were found in the flat is still beng ascertained. The Commission, the sources said, deliberated on the issue and decided to seek more information from the state election adminstration before arriving at a conclusion. PC Jeweller to buy back shares worth Rs 424 crore P C Jeweller has announced its board has approved buy-back of shares worth Rs 424 crore amid a sharp plunge in stock price in recent weeks. The shares will be bought back at Rs 350 per unit, which is 67 per cent higher than the closing price of Rs 209 apiece on the BSE today. Promoters will not participate in the buy-back process. In a regulatory filing, the Delhi-based jeweller said the board at its meeting held today considered and approved the buy-back of up to 1,21,14,286 fully paid-up equity shares of Rs 10 each. Flipkart CEO to sellers: No change in the operating processes Flipkarts Chief Executive Officer Kalyan Krishnamurthy has reached out to sellers on its platform and sought to reassure that there will be no changes in the operating processes of the Bengaluru-based firm as a result of the USD 16-billion deal struck with US retail giant Walmart. Flipkart and Walmart will maintain distinct brands and operating structures post this investment, he said promising that Flipkart will continue to remain a marketplace where sellers from around the country can connect with customers