India's Network18 rises on regulator nod for Viacom18-Jio Cinema deal

Network18 Media & Investments

20/09/2022 08:47

** Shares of Indian media firm Network18 Media & Investments
 NEFI.NS  rise as much as 5.4% to 70.65 rupees, marking biggest
intraday pct gain since Sept 5
    ** India's competition regulator on Monday approved a merger
between Reliance Jio Infocomm Ltd's streaming platform, Jio
Cinema, and Viacom18 Media, in which NEFI-owned TV18 Broadcast
Ltd  TVEB.NS  owns a 51% stake  urn:newsml:reuters.com:*:nFWN30P01O
    ** Shares of TVEB also up 6%
    ** More than 1.18 mln NEFI shares change hands by 0734 GMT
vs 30-day avg of 1.47 mln 
    ** Stock down 25.9% so far this year, up to last close


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))