Govt approves Walt Disney’s shareholding in UTV to 100%

08 Dec,2011

 

By A Correspondent

 

The Cabinet Committee on Economic Affairs of the Government of India has approved the proposal of Walt Disney Company (Southeast Asia) Pvt. Ltd., Singapore for increasing its shareholding of UTV Software Communications Limited, on fully diluted basis, from 48.02 per cent to 100 per cent, pursuant to the Foreign Investment Promotion Board recommendation in its meeting held on November 15, 2011.

 

This approval is expected to result in FDI inflows amounting to Rs.8250 crore.

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