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Videocon chairman and managing director Venugopal Dhoot said on Wednesday that the company has had “second thoughts.” (Videocon chairman and managing director Venugopal Dhoot said on Wednesday that the company has had “second thoughts.”)
Videocon chairman and managing director Venugopal Dhoot said on Wednesday that the company has had “second thoughts.”

(Videocon chairman and managing director Venugopal Dhoot said on Wednesday that the company has had “second thoughts.”)

Videocon pulls out of Deccan Chargers auction

Videocon was the first firm to have expressed interest in buying the twenty20 cricket franchise, but didn’t even purchase the tender document from BCCI.

Mumbai/ Hyderabad: A day before the Indian Premier League (IPL) franchise Deccan Chargers is put on the auction block, there seem to be few takers for the team being sold by its troubled owner Deccan Chronicle Holdings Ltd (DCHL), with even Videocon Industries Ltd backing out.

Videocon, with interests in businesses ranging from electronics to energy, was the first company to have expressed interest in buying the the twenty20 cricket franchise, but didn’t even purchase the tender document from the Board of Control for Cricket in India (BCCI).

Videocon chairman and managing director Venugopal Dhoot said on Wednesday that the company has had “second thoughts."

“We have not picked up the tender (document)," said Dhoot. He said in an interview earlier that Videocon would offer the market price for Deccan Chargers he estimated at 700 crore and that he would attempt to have the team’s base shifted out of Hyderabad. In contention to buy the team are four corporate houses, including Harsh Goenka-led RPG Group, The Times of India reported on Tuesday. A spokeswoman for Deccan Chargers said she had no idea of the prospective bidders. IPL chief Rajiv Shukla could not be reached for comment on Wednesday.

DCHL, publisher of the English-language Deccan Chronicle, Financial Chronicle and Asian Age newspapers and the Telugu daily Andhra Bhoomi, paid $107 million for the Hyderabad franchise in 2008. The firm has been battling a crisis in recent weeks. HT Media Ltd, publisher of Mint and The Hindustan Times, competes with DCHL in some markets.

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