Reliance Industries (RELI.NS) will spend about
$680 million to buy a majority stake in Network18 Media and Investments
(NEFI.NS), as a potential content provider for its planned 4G internet services.
Reliance had first invested an undisclosed amount in Network18 and its subsidiary TV18 Broadcast (TVEB.NS) in 2012, marking its entry to the media sector.
TENDER OFFER
Independent Media Trust (IMT), set up by Reliance, will use the funds to acquire ownership of about 78 percent in Network18 and 9 percent in TV18.
IMT will also make a mandatory tender offer to minority shareholders for acquisition of more shares in Network18, TV18 and group company Infomedia Press Ltd
The Reliance entity will make the tender offer to buy the remaining 21.96 percent in Network18 for 9.4 billion rupees ($159.28 million), while it will offer to buy up to 26 percent each in TV18 and Infomedia for a combined 17.4 billion rupees.
For More Reports you can visit all Research Reports By Elite Wealth Advisors Ltd., Click Here
Reliance had first invested an undisclosed amount in Network18 and its subsidiary TV18 Broadcast (TVEB.NS) in 2012, marking its entry to the media sector.
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| Reliance Behavior |
TENDER OFFER
Independent Media Trust (IMT), set up by Reliance, will use the funds to acquire ownership of about 78 percent in Network18 and 9 percent in TV18.
IMT will also make a mandatory tender offer to minority shareholders for acquisition of more shares in Network18, TV18 and group company Infomedia Press Ltd
The Reliance entity will make the tender offer to buy the remaining 21.96 percent in Network18 for 9.4 billion rupees ($159.28 million), while it will offer to buy up to 26 percent each in TV18 and Infomedia for a combined 17.4 billion rupees.
For More Reports you can visit all Research Reports By Elite Wealth Advisors Ltd., Click Here
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