Disney raises stake in UTV Software to 60% in open offer

Walt Disney, the second largest media house in the US, has increased its stake in UTV Software Communication by 22.65% in an open offer, to take its total holding in the company to 59.94%.

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Earlier this year, Disney had raised its holding in UTV to 32.1%, the same level as UTV’s founders, from 14.9%. This, it had done by acquiring 93.5 lakh shares for Rs 805 crore ($203 million), at Rs 860.79 per share.