|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 90.6 INR | -2.32% |
|
+3.42% | +3.72% |
| Apr. 19 | Network18 Media Widens Loss in Fiscal Q4 | MT |
| Apr. 19 | INDIA STOCKS-Middle East worries weigh down Indian shares; Infosys drags IT stocks | RE |
BENGALURU (Reuters) - India's TV18 Broadcast will merge with Network18 Media & Investments in an all-stock deal worth 98.13 billion rupees ($1.18 billion), the two Reliance-owned companies said on Wednesday.
The deal will consolidate the Mukesh Ambani-owned Reliance's broadcast and digital businesses, which include business news portal Moneycontrol and streaming platform JioCinema, and reduce costs, they said in an exchange filing.
Network18 will issue 100 shares for every 172 shares of TV18, the companies said, valuing the latter at 57.24 rupees per share - a 1.9% premium to its closing price on Wednesday.
($1 = 83.3170 Indian rupees)
(Reporting by Ashna Teresa Britto; Editing by Sohini Goswami)
Price
|
Change
|
5d. change
|
Capi.
| ||
|---|---|---|---|---|---|
| 9,916 PTS | +2.05% | +2.29% | - | ||
| 2,905 INR | -0.51% | -1.20% | 221B | ||
| 2,686 PTS | +0.86% | +2.29% | - | ||
| 90.6 INR | -2.32% | +3.42% | 1.12B | ||
| 46.35 INR | -0.22% | +1.87% | 953M | ||
| 1st Jan change | Capi. | |
|---|---|---|
| +3.72% | 1.12B | |
| +24.85% | 207B | |
| +9.98% | 16.08B | |
| -19.47% | 8.36B | |
| -15.67% | 7.93B | |
| 0.00% | 4.58B | |
| +37.01% | 4.24B | |
| +11.41% | 3.5B | |
| +46.62% | 2.68B | |
| +18.46% | 2.55B |
NETWORK18 MEDIA & INVESTMENTS LIMITED 
