|
MUMBAI:
Mumbai-based ETC Networks Ltd, a part of Zee Group, has fixed
11 February 2008 as the record date for the scheme of amalgamation.
The
amalgamation involves a merger between ETC Networks and Zee
Interactive Learning Systems (ZILS). The merger will be effective
from 1 April.
The
share-swap ratio has been fixed at two shares in ETC for each
held in ZILS, as recommended by independent valuer Dalal and
Shah. Zee Entertainment Enterprises Ltd (ZEEL) currently holds
55.29 per cent in ETC.
After
the merger, ZEEL would hold 51 per cent in the combined entity.
ETC
Networks runs a Hindi and a Punjabi music channel. Besides,
it is also engaged in web hosting, Internet web portal development,
maintenance and broadcasting of satellite television channels.
| 
