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Astro Sun Direct TV deal under scrutiny

Astro All Asia Networks, whose investment in Sun Direct TV has come under scrutiny in the Aircel-Maxis ownership case for alleged ‘highly inflated valuation’, has written to the Central Bureau of Investigation saying it followed an RBI-recommended methodology to invest in the DTH service provider.

Source:[url=http://timesofindia.indiatimes.com/business/india-business/Followed-RBI-methodology-to-invest-in-Sun-Direct-Astro-Asia/articleshow/22799216.cms]Times of India[/url]




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  1. Did not pay premium for 20% stake in Sun Direct: Malaysian firm to CBI

    Thomas K Thomas
    New Delhi, Oct. 16:

    Malaysia’s media and entertainment company Astro All Asia Networks Ltd has told the Central Bureau of Investigation that it paid a lower value to buy a stake in Sun Direct TV Pvt Ltd compared with the valuation arrived at by investment banker JP Morgan.

    In a letter to CBI Director Ranjeet Sinha, sent on September 25, Astro said while JP Morgan had set the value of Sun Direct in 2007 in the range of Rs 2,610-3,380 crore, Astro paid Rs 549 crore for a 20 per cent stake in Sun Direct, pegging the enterprise value at Rs 2,196 crore.

    http://www.thehindubusinessline.com/companies/did-not-pay-premium-for-20-stake-in-sun-direct-malaysian-firm-to-cbi/article5241053.ece?css=print

  2. I’m from Malaysia, and i’m finding this news interesting. Still using Astro.:lol:

  3. hah,, sun is back again in news, as always for wrong things more than good things these days..

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