Shares of DEN Networks climbed 5% on Monday’s trading, reacting to a report carried in The Hindustan Times on Saturday, 11 June that broadcast major Star India was in race to acquire the multi-system operator (MSO). The scrip touched a high of Rs 91.90 on Monday before finally closing at Rs 88.35 per share on the BSE, up 1.03% from the previous close of Rs 87.45. The HT report said that Star’s interest in DEN was “initiated after differences cropped up with DEN’s previous suitor Subhash Chandra’s Siti Cable”. It further stated: “Apart from valuations, it is also learnt that Siti and DEN also disagreed on the role that Manchanda could likely play after the transaction.” DEN’s market capitalisation stands at Rs 1,574.40 crore (Rs 15.74 billion). However, officially denying the story, DEN informed the exchange that it has “a policy not to comment on any market speculation.”
Read more at: http://www.televisionpost.com/cable/den-scrip-rallies-mso-denies-media-report-about-acquisition-by-star/ | TelevisionPost.com
Read more at: http://www.televisionpost.com/cable/den-scrip-rallies-mso-denies-media-report-about-acquisition-by-star/ | TelevisionPost.com
