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Help: Videocon looking to sell stake in unit for $75-$100 million: Sources - Printable Version

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Videocon looking to sell stake in unit for $75-$100 million: Sources - Sathish - 11-05-2011

MUMBAI: Videocon Industries is looking to sell a 25 per cent stake in its direct-to-home broadcast services business for roughly $75 million to $100 million and is in talks with private equity firms, people with direct knowledge of the matter said.

Potential investors in the unit, branded D2H, include ICICI Venture, the private equity arm of No 2 Indian lender ICICI Bank, sources said. Videocon has hired UBS to find an investor, sources said.

Videocon and ICICI Venture declined to comment. UBS officials could not be reached for immediate comment.

DTH services have been gaining momentum in India due to increasing spending power in an upwardly mobile population. Videocon D2H had launched its operations in 2009. Other operators include Tata-Sky, a joint venture between Tata Group and News Corp, Airtel DTH from Bharti Airtel, Sun Direct from Sun TV and Reliance Big TV from Reliance Communications.

Read Full Story at Indian DTH Blog