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Investment banking major Goldman Sachs has received the Competition Commission's nod to hike its stake in Den Networks to over 24 per cent by acquiring additional shares through preferential allotment route.
Under the deal announced last month, Goldman Sachs would pick up over 1.58 crore shares for more than Rs 142 crore in the cable TV service provider.
The additional acquisition would be done by the holding companies of Goldman Sachs -- Broad Street Investments (Singapore) Pte (BSIPL) and MBD Bridge Street 2016 Investments (Singapore) Pte (MBD), according to filing submitted to CCI.
BSIPL and MBD are investment holding companies and are not engaged in business of manufacturing of products or the provision of service.
Den Networks is into distribution of television channels through analog as well as digital modes.