Brief: India's Zee Media says to buy up to 80 pct in two cos

Zee Media

27/02/2016 10:14

Feb 27 (Reuters) - Zee Media Corp Ltd  ZEEN.NS  
    * Says board approved in-principle acquisition of up to 80 
stake in Today Merchandise Pvt Ltd and Today Retail Network Pvt 
Ltd 
    * Target companies developing infrastructure for launching a 
TV shopping channel and also operate e-commerce site 
    * To initially invest about 398 million rupees by June to 
acquire 49 percent stake each in the two cos 
    * To increase stake in the cos by investing up to 1.26 
billion rupees over 4 years 
 
Source text for Eikon:  ID:nGLF93GXZK  
Further company coverage:  ZEEN.NS  
 
 (Mumbai newsroom) 
 ((devidutta.tripathy@thomsonreuters.com))