Billionaire Ambani's Den Networks jumps after board approves Network18 merger

Den Networks

19/02/2020 04:44

BENGALURU, Feb 19 (Reuters) - ** Cable TV and broadband
service provider's shares  DENN.NS  rise as much as 10% to 65.5
rupees, their highest level in four months
    ** Shares set to post their fourth straight session of
gains; mark their biggest intraday pct gain since August
    ** Den Networks' board approves https://www.bseindia.com/xml-data/corpfiling/AttachLive/5048b49b-29d3-4b30-b5cb-476a2bf05cd9.pdf
 merger with Network18 Media & Investments  NEFI.NS , owned by
Reliance Industries  RELI.NS 
    ** Den Networks, also a Reliance unit, was part of a
consolidation of the oil-to-telecoms conglomerate's media and
distribution businesses  urn:newsml:reuters.com:*:nL4N2AH3AY
    ** Reliance is owned by India's richest man Mukesh Ambani
    ** About 216,570 DENN shares change hands vs their 30-day
avg volume of 80,185 shares
    ** As of last close, DENN has risen 23.04% this year 

 (Reporting by Derek Francis in Bengaluru)
 ((derek.francis@thomsonreuters.com; +91-9986311363 and
@derekfrancis089 on Twitter;))