Tuesday, July 12 2005 16:12 Hrs (IST) - World Time -

Mumbai: New Delhi Television Ltd (NDTV), a leading television broadcast and content company, said today (July 12, 2005) that GA European Investments proposes to acquire nearly eight percent stake in the company. GA European Investments, a company incorporated in Cyprus, proposes to acquire 4.8 million equity shares of NDTV from Shyam Cellular Infrastructure Projects Ltd, said a statement issued to the Bombay Stock Exchange.

This constitutes 7.9 percent of the issued and paid up equity share capital of NDTV, the statement added.

The proposed acquisition is subject to the terms of the requisite documentation between GA and Shyam Cellular Infrastructure Projects and receipt of requisite approvals from the Governmental authorities in India.