Jan 29, 2009

Business - IBN18 to acquire 43.4 pct in Viacom18 for $62.5 mln

MUMBAI, Jan 28 (Reuters) - IBN18 Broadcast Ltd (IBN.BO: Quote, Profile, Research) said on Wednesday its board has approved the acquisition of a 43.4 percent stake in Vaicom18 Media Pvt Ltd from a unit of Television Eighteen India Ltd (TVET.BO: Quote, Profile, Research) for $62.5 million.

With this acquisition, IBN will own 50 percent in Viacom18, it said in a statement to NSE. (Reporting by Swati Pandey; Editing by Sunil Nair)

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