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India Today plans to offload 20% in TV Today

18-January-2001
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India Today plans to offload 20% in TV Today

The India Today group is planning to divest up to 20 per cent stake in its television venture, TV Today Network, to a strategic investor for funding part of its investment requirements. While 10 per cent has already been offloaded to ICICI, negotiations are going on for the other 10 per cent, TV Today Network chief executive officer G Krishnan said here on Tuesday.

The TV Today CEO said a strategic partner, in case one was invited to take the 10 per cent stake, should be able to provide critical technical and production inputs into the venture, and a decision on the partner should be made soon.

The group is also looking for a financial investor for its India Today Group Online division, for which it was talking to both domestic and overseas investors.

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