Reliance Industries' media, cable units soar on merger plan

Den Networks

18/02/2020 05:22

** Shares of media, cable TV and internet service companies
owned by billionaire Mukesh Ambani's conglomerate  RELI.NS  
soar after Reliance says it will merge them into Network18 Media
& Investments Ltd  NEFI.NS 
    ** Reliance's TV18 Broadcast Ltd  TVEB.NS , Hathway Cable
and Datacom Ltd  HAWY.NS  and Den Networks Ltd  DENN.NS 
businesses will be consolidated into Network18  urn:newsml:reuters.com:*:nL4N2AH3AY
    ** TV18 Broadcast shares surge as much as 19.96%, its
biggest intra day pct gain in more than 8 years  
    ** Shares of Hathway Cable also soar as much as 20% to its
highest level in a month 
    ** Den Networks surges 10%



 (Reporting by Philip George in Bengaluru)
 ((P.George@thomsonreuters.com; +91 8061822657; Reuters
Messaging: p.george@thomsonreuters.net))