Top Story

e4m_logo.png

Home >> International >> Article

Zee share closes at Rs 136 on stake sale reports

05-December-2001
Font Size   16
Zee share closes at Rs 136 on stake sale reports

The stock price of Zee Telefilms Ltd., shot up to day's high of Rs 144 after company confirmed to the Asian Wall Street Journal that it is in talks with US media giant AOL Time Warner for a strategic partnership. Later it closed at Rs 136.80, higher by 1.15 per cent over its previous close.

Speculation that a deal with AOL is imminent has been spurring Zee's shares for the past few weeks.

Zee's share price has gained 38 per cent in the past one month. The media and stock markets have been rife with speculation that the firm had nearly struck a deal with AOL.

The Hindustan Times newspaper said in a report on Sunday that Zee would give a 10 per cent stake to AOL for over Rs 700 crore, offering optionally convertible warrants of Rs 175 each, convertible into equity shares of Re one each after 18 months.

AOL also had the option to only partially convert the warrants or not convert them at all, it said. AOL could also raise its stake to 26 per cent later, it said.

The firm has already struck a content-sharing deal with AOL company CNN for its Zee News channel.

Zee, which runs 14 channels and beams to 22.5 crore viewers worldwide, had announced in May that it planned to sell stake to an international media company to help globalise its operations and later appointed UBS Warburg to spearhead the search.

Tags

Exchange4media interacted with Jaspreet Chandok, Vice President and Head (Fashion) , IMG Reliance Pvt. Ltd on seamless brands integrations planned for Lakme Fashion Week, walking tall despite blazing trails like GST, demonetization and being a part of the larger cultural space

Their strategy to educate the consumers to make well informed decisions at all stages has worked out well.

Bobby Pawar, MD, CCO - South Asia, Publicis India, talks about his idea of chilling out

The Managing Editor of Public TV gives insights about the struggle the Kannada news channel endured during its nascent stage and what led them forward to the second position that they occupy right now in what is a rather crowded marketplace

The unveiling of the Pitch Madison Advertising Report 2018 event was held on February 15, 2018. Over the years, the report has become a benchmark in the industry. Here are some pictures from the event...

Exchange4media interacted with Jaspreet Chandok, Vice President and Head (Fashion) , IMG Reliance Pvt. Ltd on seamless brands integrations planned for Lakme Fashion Week, walking tall despite blazing...

Jake Dyson, Chief Engineer and Member of the Dyson board, spoke about the innovations and technology that they plan to bring to India