India's Network18 Media surges on report Sony in talks to buy stake

TV18 Broadcast

21/11/2019 05:31

** Shares of Network18 Media  NEFI.NS  rise as much as
18.25% to 30.50 rupees, their highest since June 13
    ** Japan's Sony Corp  6758.T  is in talks to acquire a stake
in Indian billionaire Mukesh Ambani's TV business - Network18
Media & Investments Ltd, Bloomberg reported on Thursday.
 urn:newsml:reuters.com:*:nL3N2811GN
    ** Ambani's Reliance Industries  RELI.NS  and Sony did not
immediately respond to Reuters' request for comment
    ** Over 3.3 mln shares change hands, compared with 30-day
avg of 331,560
    ** Stock down 37% this year, as of last close
    ** Shares of unit TV18 Broadcast Ltd  TVEB.NS  rise as much
as 9.7%

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8067496031); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))