GRANDE Holdings has yet to clear the last hurdle in buying Teletech International Holdings shares, with the largest principal bank still pondering whether to approve the deal.
The purchase agreement struck between Grande and Swilynn International Holdings should have been completed in the middle of last month, subject to an audit report to be released at a later date. Teletech is a subsidiary of Swilynn.
However, sources said a delay in the audit report in addition to some other problems stood in the way of finalising the deal.
Grande's purchase of a 34.4 per cent stake in Teletech is likely to fall through if Swilynn's 14 bank creditors cannot agree to the terms suggested by Grande following a closer look into Teletech's financial position.
Grande vice-president Albert Ha said yesterday the main bank had not yet made its decision.
He said Grande wanted a lower figure in the guaranteed repayment of a loan by Teletech to Swilynn, which was $52 million under the preliminary agreement.