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Zee
Telefilms' open offer for 20 per cent additional stake in
ETC Networks at Rs. 31.52 per share opens today.
This
follows the Zee's acquisition in February of a 48.38 per
cent of ETC promoters' stake. In its offer letter Zee had
said: "The acquisition of majority stake in ETC Networks
will enable Zee Telefilms to have undisputed market leadership
in the music and Punjabi segments besides providing access
to the ETC library."
Meanwhile,
the Subhash Chandra broadcaster clarified yesterday that
its recent offer to acquire a major stake in Telugu animation
major Padmalaya Telefilms would remain at Rs. 148.50 per
share. Zee said that it would not increase the offer price
for acquiring 20 per cent in Padamalaya Telefilms. Zee's
clarification came in response to queries raised after PTL's
ruling price reportedly touched Rs. 153.25 on Monday. The
scrip is currently trading at Rs 149.
Zee's
open offer for 20 per cent more of PTL is expected to open
on 5 May. The offers comes on the heels of newly acquired
Zee subsidiary Padmalaya Enterprises acquiring a 34 per
cent stake in PTL.
Zee
stake at 73% after ETC allots preferential shares
Zee
takes 33 % stake in Padmalaya Telefilms
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