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Indian Express group takes 10 per cent share in Mid Day

03-March-2005
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Indian Express group takes 10 per cent share in Mid Day

Mid Day Multimedia has got yet another stakeholder. This time it is the Indian Express that has picked a 10 per cent stake in the organisation. A similar development was seen last year when Bennett, Coleman & Co bought a 6.15 per cent taking its stake in the publication to 7.82 per cent.
Indian Express sources confirm this development to exchange4media, saying, “This is a financial investment made by one of the Express group companies that is Indian Express. We have agreed to purchase 10 per cent stake in Mid Day Multimedia. We already have mutual cooperation with the group in other areas and this is just taking that relation further.”
Mid Day shares have been in the news since October 2004, when Bennett bought 6.15 per cent of the company stock (in addition to 1.67 per cent stake earlier) through its financial company BanHem Financial Investment Consultancy Ltd.

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