News Snapshot:
New Delhi: The Indian government could reportedly block Chinese investors from buying shares in the Life Insurance Corporation (LIC) of India’s upcoming mega initial public offering due to the underscoring tensions between the two nations. According to a report by Reuters, the Centre is planning to allow foreign investors to participate in the IPO that could help the government rake in a potential $12.2 billion. However, the Centre could potentially discourage Chinese ownership of India’s crown jewel. The state-owned insurer enjoys more than a 60% share of India’s life insurance market. The company’s assets are valued at more than $500...
