UTV Consolidates Motion Pictures Subsidiary UTV's Mauritius-based Motion Pictures subsidiary, which is listed on London's AIM stock exchange, is now being merged with the parent company, it informed the BSE. UTV Software Communications owns 76.82% of UMP and the balance is owned by independent stakeholders, with whom the company plans to undertake a share swap exercise. It will offer 1 equity share for every 3.5 shares held, which will result in a 15.84% dilution in its capital and the promoters' holding will fall from 83.25% to 70.06%. The move is expected to increase operational synergies and shareholder value. Rural Teledensity Four Times Target; BSNL To Implement Last of VPTs In Nov The government announced rural teledensity in India is 16.54% as of May 2009 (as of March 2009, as we reported in our quarterly telecom post, it was 14.8%). It has flown past the targeted teledensity of…
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