Following the restructuring its cable business under Wire and Wireless India Ltd (WWIL) and the regional and news broadcasting undertaking into Zee News Ltd (ZNL), both are set to become independent listed companies. According to sources close to the development, the development was expected early next week. ZNL would be on both BSE and NSE.
Zee News Ltd, CEO, Harish Doraiswamy, was unavailable for comments in this regard, however, according to sources, meetings with investors were currently on and the process was set to be completed next week.
In an earlier interaction with exchange4media, Subhash Chandra, Chairman, Zee Telefilms, had said that the two new companies – ZNL and WWIL – would start their journey as independently listed entities. He had said, “Though both Wire and Wireless India Ltd and Zee News Ltd were earlier part of ZTL. They would be able to unlock greater shareholder value as independent companies.”
Following Zee’s demerger, Zee Entertainment and Enterprise had started trading at the stock exchanges from December 18, 2006.