India's Network18 up after report says Disney, Reliance sign India merger pact

Network18 Media & Investments

26/12/2023 05:15

** Shares of Network18 Media & Investments  NEFI.NS  up 4.4%
at 89.85 rupees
    ** Economic Times reported Monday that a unit under
NEFI-owned Viacom18 would take control of Disney's Star India as
part of Reliance-Disney India media ops merger
    ** NEFI parent Reliance to own 51% stake in merged Disney
entity - ET
    ** Reliance and Disney did not respond to Reuters' requests
for comment on the report
    ** Over 9.2 mln NEFI shares change hands, a little over
stock's 30-day moving avg volume of 9 mln
    ** Stock up 36% so far this year, outperforming Nifty Media
index's  .NIFTYMED  20% rise


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