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MUMBAI:
UTV Software has got the Foreign Investment Promotion Board
(FIPB) nod to get foreign equity from Walt Disney worth Rs
9.24 billion by way of subscribing to equity shares in UTV
Software, and equity shares and warrants in UTV Global Broadcasting.
Besides, it also includes further acquisition of shares by
way of open offer in UTV Software.
As
reported first by Indiantelevision.com, Walt Disney
would increase its stake in UTV Software Communications to
32.1 per cent through a preferential allotment.
In
another case, the FIPB has given approval to Percept for conversion
of operating company into an operating-cum-holding company
to undertake downstream investments. However, there will be
no fresh inflow of funds in the company.
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