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India: Dish TV, Videocon D2H to merge as single DTH company

 |  November 13, 2016

Ending months of speculations, India’s largest direct-to-home player, Dish TV listed Videocon have decided to merge operations to form the single largest pay TV operator with 27.6 million net subscribers.

The Board of Directors of the two companies approved a scheme of arrangement for amalgamation on Friday.

Post completion, the merged entity will be renamed as Dish TV Videocon Limited. Current Dish TV MD Jawahar Goel will head the new company as chairman and managing director.

“Pursuant to the Scheme, Dish TV Videocon shall issue 857.791 million shares as consideration for the Scheme and the Vd2h shareholders shall be allotted 2.021 new shares of Dish TV Videocon for every one share held inVd2h” Dish TV said in a statement.

Full Content: Economic Times

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