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Govt. not to allow FDI in print media: Maran

03-March-2001
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Govt. not to allow FDI in print media: Maran

The Union Commerce and Industry Minister, Mr. Murasoli Maran, has asserted that the government will not allow foreign investment in print media. Responding to a spate of supplementaries on the main question raised in Rajya Sabha, the minister said that even the multimedia company Midday went for an IPO of Rs 50 crore. It sought to rope in foreign institutional investors (FII). Since the RBI was categorical in its instruction that foreign investment would not be allowed in print media, the company intimated to the RBI its decision not to rope in FIIs.

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