Dish TV and Videocon d2h merger will get CCI approval

New Delhi: The Competitors Fee of India (CCI) on Wednesday authorised the merger between Zee Leisure Enterprises Ltd’s DTH platform Dish TV and Videocon d2h, the direct-to-home tv arm of Videocon Industries Ltd.

The businesses had introduced their merger in November 2016. The brand new firm can be referred to as Dish TV Videocon Ltd. Dish TV will personal 55% and Videocon 45% stake within the new firm.

In an announcement launched on Wednesday, Dish TV mentioned that the corporate has already obtained the approval from the Securities and Change Board of India (Sebi), NSE and BSE Ltd for the proposed merger.

Dish TV has additionally referred to as a gathering of fairness shareholders on 12 Could 2017 to hunt their approval for the merger, in accordance with the assertion.

Earlier this yr, CCI had requested the Telecom Regulatory Authority of India (Trai) to weigh in on whether or not the merger of DTH corporations Dish TV India Ltd and Videocon d2h Ltd will violate any anti-trust legal guidelines, Mint had reported on 9 March.

The proposed transaction is anticipated to create a number one cable and satellite tv for pc distribution platform in India which can serve 27.6 million prospects (knowledge as of 30 September) and may have a forty five% market share. Jawahar Goel, managing director of Dish TV, will lead the mixed entity as chairman and managing director.

Dish TV is at the moment the market chief with a 25% share, adopted by Tata Sky with a 23% market share, in accordance with knowledge from Trai. Videocon d2h and Bharti Telemedia have 20% market share every.

At current, India has seven DTH corporations together with state-owned broadcaster Doordarshan’s DTH platform for free-to-air channels referred to as DD Free Dish. In response to a 2013 report on the Indian DTH market by Hong Kong-based analysis agency Media Companions Asia, revenues within the DTH trade are anticipated to the touch $3.9 billion by 2017 and $5.3 billion by 2020, up from $1.5 billion in 2012.

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