Update: There have been reports, such as this one in The Economic Times, that Disney is looking to buy the remainder of UTVs stake for Rs 2000 crore. MediaNama readers should keep in mind the following: - The price of Rs 1000 is for Public Shareholding only. - Disney has not disclosed how much it is willing to pay for the 19.82% held by RS Promoters. - Rs 1000 is what Disney views as an attractive price for the Public shareholding, but says that this is neither the maximum price, nor is it an offer to acquire the complete shareholding. Read the filing here. July 26th, 9:20 AM: It was inevitable. Disney, through its group company The Walt Disney Company (Southeast Asia) is looking to take Indian media conglomerate UTV Software private by acquiring publicly held shares in the open market at a maximum of Rs 1000 per share, and delisting the company. Disney currently holds 20,497,994 equity shares of UTV, constituting 50.44% of the current paid up capital of the company. UTV owns businesses in films (UTV Motion Pictures), broadcasting (UTV Movies, Bindass, UTV Action, and UTV World Movies), Gaming (True Games, Ignition Entertainment and Indiagames) and Web and Mobile (UTV Interactive). Note that Bloomberg UTV is not owned by UTV Software, but by the promoter group, and is subject to India's 26% foreign direct investment limit in news media. If the delisting of UTV Software is successful, Disney will look to acquire the remaining 19.82% shares currently held…
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