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Sun direct Reliance merger cancelled
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Sun direct Reliance merger cancelled
sun direct and reliance merge deal is cancelled due to non agreement on money issue
this info i got from friend working in sun direct

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[-] The following 1 user says Thank You to rajreddy for this post:

Sad news.But merging news is published in newspapers.
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but y ? i think only mj bhai or viki bhai can give more inputs
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(Thursday 12-September-2013, 18:44)MAHI Wrote: Sad news.But merging news is published in newspapers.

See the below news which was publish few days back on 28th August, 2013 in The Hindu Business Line about the Merger not getting through.

Quote:News reports had earlier said Sun Direct was likely to acquire the business of Reliance Big TV and that a due diligence exercise was on. Senior executives at Reliance had then told Business Line that they did not want to comment on speculation. But, according to industry sources, it may take a while to decide this issue, as it calls for a lot of understanding between the two entities. The industry sources now say the merger plan between the two companies may not go through “as there is some disagreement on the valuation”. The two companies have been sharing their back-end facilities for a couple of years now. After a technical glitch in INSAT 4B in 2010, Sun Direct entered into a long-term agreement with Reliance Digital to share the latter’s bandwidth in MEASAT 3.
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[-] The following 1 user says Thank You to kumaran for this post:


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