NEW DELHI, Dec 4: After failing in its bid to transfer shares in Asian Paints, the British multinational ICI PLC has decided to wait till the formation of a new government to initiate a dialogue, company sources said. ICI India, the Indian subsidiary of the London-based company, is likely to initiate a `dialogue' with the government officials only after a new government is formed, sources in the company said on condition of anonymity. Company officials were not immediately available for comment.ICI PLC had sought to acquire 9.1 per cent shares of blue-chip Asian Paints India Ltd (APIL) in August and approached the Foreign Investment Promotion Board (FIPB) to obtain permission for the same.The FIPB in November refused to take up the application of the British company saying it could not be considered without a supporting board resolution from Asian Paints.
