Louise Duffy ©RapidTVNews | 26-07-2011
Walt Disney Co is planning to acquire additional shares in India’s UTV Software Communications and delist the company.
Media and entertainment company UTV Software told the Bombay Stock Exchange in a statement that Disney will offer as much as 1,000 rupees ($23) apiece to purchase shares held by the public; an 11% premium on yesterday's closing share price.
Disney also aims to buy a 19.82% stake held in the company by its founders - it is not known how much it will pay. The purchase will bring Disney’s stake in UTV Software to 70.26%.