×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

UTV Software denies talks of further stake sale to Disney

UTV Software denies talks of further stake sale to Disney
Comment E-mail Print Share
First Published: Tue, Jun 07 2011. 04 00 PM IST
Updated: Tue, Jun 07 2011. 04 00 PM IST
Mumbai: UTV Software Communications Ltd said on Tuesday it has not received any proposal from The Walt Disney Co to increase the latter’s stake in the Indian media firm.
The company was responding to media reports suggesting Disney may increase its stake in UTV Software, likely triggering an open offer that could lead to the firm’s delisting from Indian bourses.
“Presently, no such delisting proposal has been received by the company from its promoter shareholder,” the company said in a statement to the NSE.
On Monday, shares of UTV had risen as much as 12% to a 52-week high on market talk that Disney is planning to raise its holding in the company.
Disney currently owns 50.44 % in UTV Software. .
Comment E-mail Print Share
First Published: Tue, Jun 07 2011. 04 00 PM IST