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DTH News : Dish TV-Videocon d2h merger to get delayed
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MUMBAI: The merger between direct to home (DTH) operators Dish TV and Videocon d2h will get delayed as the filing of relevant intimation/E-Forms with the Registrar of Companies (RoC), Mumbai will not get completed by 27 December, as intimated by Dish TV earlier.

On 18 December, Dish TV had informed that it will be taking further steps for effecting the merger and accordingly, the companies involved in the merger scheme shall be filing the relevant intimations / E-Forms with the RoC, Mumbai on or about 27 December.

The ministry of information and broadcasting (MIB) had on 15 December accorded the necessary approval for the Scheme of Arrangement for Amalgamation of Videocon d2h with Dish TV India.

“This is in reference to our communication dated December 18, 2017 wherein we had informed that the Company would be filing the relevant intimations / E-Forms with the Registrar of Companies, Ministry of Corporate Affairs, Maharashtra, Mumbai on or about December 27, 2017, which shall be the Effective Date for the said Scheme,” Dish TV said in a filing.

“In this regard, we would like to inform you that the filing of the relevant intimation / E-Forms with the Registrar of Companies, Ministry of Corporate Affairs, Maharashtra, Mumbai will not be getting completed by December 27, 2017. We shall be intimating the Stock Exchanges about the revised date of filing in due course.”

Following the amalgamation, the combined entity will be renamed as Dish TV Videocon.

The combined entity will pave the way for the creation of the largest listed media company in India taking into consideration the last reported revenue and EBITDA numbers of the two DTH players on a pro-forma basis.

Dish TV and Videocon d2h had reported separate revenue and EBITDA numbers which at a pro-forma level add up to Rs 6086.2 crore and Rs 1990.9 crore for FY17.

The combination will have a scale similar to leading global cable and satellite players in terms of subscribers. Dish TV Videocon would serve more than 29 million subscribers in India, as per its combined share on 30 September.

Source:
___________________________________________
Airtel Digital HD Recorder / Kerala Vision Digital TV
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