UTV denies plans to sell 30% stake in UHE to Walt Disney

New Delhi, July 17 (UNI) UTV Software Communication today denied that it is in talks with Walt Disney to sell 30 per stake in United Home Entertainment (UHE) as stated by a financial daily.

In a statement, the company said it does not subscribe to the views expressed in the article published in the leading financial daily.

UTV also held that UHE is not its subsidiary, but a joint venture.

''With reference to the news item which appeared in a leading financial daily titled 'Disney in talks to buy 30 per cent in UTV arm', UTV Software Communications Ltd clarifies that United Home Entertainment (UHE) is not a subsidiary of the company, but it is a joint venture. The current equity holding of the company is 49 per cent in UHE,'' the statement said.

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