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rahul1117kumar
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Dish TV gets SEBI nod, expects merger with Videocon d2h to complete by Oct
Dish TV, India’s leading direct-to-home (DTH) company by subscribers, has got the approval of capital markets regulator SEBI for the proposed merger with Videocon d2h and is awaiting clearance from the Competition Commission of India (CCI).
“We have got SEBI’s approval for the proposed merger. We are yet to get the approval from CCI,” Dish TV CMD Jawahar Goel told TelevisionPost.com.
Dish TV expects the merger to complete by October this year. Besides CCI, Dish TV will also have to receive approvals from National Company Law Tribunal and stock exchanges. Applications were filed during the quarter ended 31 December 2016 with the CCI and the stock exchanges for obtaining their approvals.
The merged entity, to be named Dish TV Videocon, will create the largest DTH company in India.
Dish TV gets SEBI nod, expects merger with Videocon d2h to complete by Oct | TelevisionPost.com
Dish TV, India’s leading direct-to-home (DTH) company by subscribers, has got the approval of capital markets regulator SEBI for the proposed merger with Videocon d2h and is awaiting clearance from the Competition Commission of India (CCI).
“We have got SEBI’s approval for the proposed merger. We are yet to get the approval from CCI,” Dish TV CMD Jawahar Goel told TelevisionPost.com.
Dish TV expects the merger to complete by October this year. Besides CCI, Dish TV will also have to receive approvals from National Company Law Tribunal and stock exchanges. Applications were filed during the quarter ended 31 December 2016 with the CCI and the stock exchanges for obtaining their approvals.
The merged entity, to be named Dish TV Videocon, will create the largest DTH company in India.
Dish TV gets SEBI nod, expects merger with Videocon d2h to complete by Oct | TelevisionPost.com
BENGALURU: The Saurabh Dhoot led Videocon d2h Limited (Videocon d2h) has informed the Security Exchange Commission (SEC) that its equity shareholders have thought it fit and given consent by the requisite majority to the scheme of arrangement for amalgamation of Videocon d2h with Subhash Chandra’s Dish TV India Limited (Dish TV) and their respective shareholders and creditors. In pursuance to the Order of the Hon’ble National Company Law Tribunal, dated 22 March, 2017, the meeting of the shareholders was held on 9 May in Mumbai. The company intends to file the company petition with the Hon’ble National Company Law Tribunal seeking sanction of the scheme.
Further, Videocon d2h has also informed the SEC thaton 9 May 2017 it has received a letter dated 4 May 2017from the Competition Commission of India, approving the proposed combination of Videocon d2h with Dish TV.
Videocon d2h is a Nashdaq listed company, while Dish TV is listed on the NSE and BSE in India and the Luxembourg Stock Exchange in the form of GDRs’. The merged entity, Dish TV Videocon, will have a joint management structure with Jawahar Goel as its Chairman and MD and a vice-chairman and deputy managing director nominated by Videocon D2H shareholders.
Videocon d2h receives shareholder, Competition Commission nod for merger with Dish TV | Indian Television Dot Com
Further, Videocon d2h has also informed the SEC thaton 9 May 2017 it has received a letter dated 4 May 2017from the Competition Commission of India, approving the proposed combination of Videocon d2h with Dish TV.
Videocon d2h is a Nashdaq listed company, while Dish TV is listed on the NSE and BSE in India and the Luxembourg Stock Exchange in the form of GDRs’. The merged entity, Dish TV Videocon, will have a joint management structure with Jawahar Goel as its Chairman and MD and a vice-chairman and deputy managing director nominated by Videocon D2H shareholders.
Videocon d2h receives shareholder, Competition Commission nod for merger with Dish TV | Indian Television Dot Com
rahul1117kumar
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Dish TV–Videocon d2h merger proposal clears main hurdle; Competition Commission gives nod
The Competition Commission of India (CCI) has given Dish TV and Videocon d2h its go-ahead to merge their assets, thereby paving the way for the creation of a TV distribution behemoth.
For the two companies, the CCI was the main hurdle to cross as the combined entity would become the largest DTH company in India with a market share of 45%. Dish TV Videocon, the name of the merged entity, would also become the second-largest DTH company in the world by subscribers, behind DirecTV. As of 31 December 2016, Dish TV’s net subscriber base stood at 15.3 million and Videocon d2h at 12.77 million. The combined subscriber strength of Dish TV and Videocon d2h thus exceeds 28 million.
“We have got approval from the CCI for the proposed merger with Videocon d2h,” Dish TV CMD Jawahar Goel told TelevisionPost.com.
Dish TV got the approval note from the CCI on Tuesday. The CCI had approved the proposed merger of the two DTH companies in its meeting on 4 May.
Dish TV will now have to get the nod from the Ministry of Information and Broadcasting (MIB), the National Company Law Tribunal and the stock exchanges before it can go ahead with the merger. However, these are more in nature of procedural issues, and it is just a matter of time before the merger between Videocon d2h and Dish TV gets completed.
Dish TV–Videocon d2h merger proposal clears main hurdle; Competition Commission gives nod | TelevisionPost.com
The Competition Commission of India (CCI) has given Dish TV and Videocon d2h its go-ahead to merge their assets, thereby paving the way for the creation of a TV distribution behemoth.
For the two companies, the CCI was the main hurdle to cross as the combined entity would become the largest DTH company in India with a market share of 45%. Dish TV Videocon, the name of the merged entity, would also become the second-largest DTH company in the world by subscribers, behind DirecTV. As of 31 December 2016, Dish TV’s net subscriber base stood at 15.3 million and Videocon d2h at 12.77 million. The combined subscriber strength of Dish TV and Videocon d2h thus exceeds 28 million.
“We have got approval from the CCI for the proposed merger with Videocon d2h,” Dish TV CMD Jawahar Goel told TelevisionPost.com.
Dish TV got the approval note from the CCI on Tuesday. The CCI had approved the proposed merger of the two DTH companies in its meeting on 4 May.
Dish TV will now have to get the nod from the Ministry of Information and Broadcasting (MIB), the National Company Law Tribunal and the stock exchanges before it can go ahead with the merger. However, these are more in nature of procedural issues, and it is just a matter of time before the merger between Videocon d2h and Dish TV gets completed.
Dish TV–Videocon d2h merger proposal clears main hurdle; Competition Commission gives nod | TelevisionPost.com
JitendraKumar
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So Dish TV got CCI approval......
Greatkarthik
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When can we expect merger ?
rahul1117kumar
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By Oct 2017.
Niranjan M
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Dish TV and Videocon d2h merger gets CCI approval
http://www.livemint.com/Companies/FULbZN0PRVxgPcBVeI0nEN/Dish-TV-and-Videocond2h-merger-gets-CCI-approval.html
http://www.livemint.com/Companies/FULbZN0PRVxgPcBVeI0nEN/Dish-TV-and-Videocond2h-merger-gets-CCI-approval.html
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