Network 18 Media to hike stake in TV18 via creeping acquisition

New Delhi, Feb 22 (UNI) Television Eighteen India Ltd (TV18) today said its founder group firm Network 18 Media and Investments Ltd has decided to raise its stake in it through a creeping acquisition instead of subscribing to convertible warrants.

Earlier, TV 18's board and shareholders had approved the issue of one crore warrants to allow Network 18 India Holdings Pvt Ltd, a unit of Network 18 to raise its stake in the firm.

Network 18 Media has already picked up 3,00,000 shares in the news broadcaster since Feburary 15 via open market, a statement said.

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