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Dish TV stocks surged over 1 per cent after a CNBC TV report said that the company is in talks to buy Videocon DTH.Dish TV stocks surged over 1 per cent on Tuesday after a CNBC TV report said that the company is in talks to buy Videocon DTH. Lenders have suggested sale of Videocon DTH to Dish TV.
Nasdaq listed videocon DTH has a market cap of $855 mn, according to TV reports.
At 12.09 pm, Dish TV stocks were trading 1.10 per cent up at Rs 101.35. The scrip opened at Rs 100.30 and has touched a high and low of Rs 101.95 and Rs 99.60, respectively, in trade so far. Sensex was trading 40.39 points down at 27,238.37 during the same time.
According to reports, Dish TV, Videocon DTH negotiating on valuations close to $1 billion. Videocon DTH’s ask price currently higher than what Dish TV has offered.
Both the companies have denied any deal talk with each other.