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Zee Telefilms to offload 11% to strategic partner

18-June-2001
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Zee Telefilms to offload 11% to strategic partner

Zee Telefilms plans to offload 11 per cent shares to its strategic partner. To carry this out, Zee Telefilms will be appointing a merchant banker within a week. In Zee Telefilms, apart from promoters, FIIs hold abut 19 per cent stake, domestic financial institutions hold seven per cent, Star holds about four per cent and the rest is with the public.

Though there has been speculation in the media about the prospective strategic partner of Zee, it has to be someone with presence in developed satellite TV markets like the US, UK and Australia and whose business reach can be leveraged by Zee.

Zee Telefilms reported a 68 per cent rise in net profit for 2000-01, led primarily by a 131.92 per cent surge in fourth quarter profits.

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