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Reliance Capital ups exposure in media sector with 18 pc stake in Bloomberg UTV

17-June-2010
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Reliance Capital ups exposure in media sector with 18 pc stake in Bloomberg UTV

It is learnt that Reliance Capital, an Anil Dhirubhai Ambani Group firm, is acquiring an 18 per cent stake in business channel Bloomberg UTV. This move is part of the company’s plans for the media sector.

Bloomberg UTV is a strategic partnership between Bloomberg LP and UTV. Once the deal is completed, Bloomberg will reportedly have a 15 per cent stake in Bloomberg UTV, while founder UTV will have a 67 per cent stake.

The valuation of the deal couldn’t be ascertained at the time of filing the report.

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