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Comcast, partners make offer for stake in Subhash Chandra's Zee Ent

Comcast, partners make offer for stake in Subhash Chandra's Zee Ent plan to snap up a 51% stake in the media company.

Subhash Chandra
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Subhash Chandra owns Essel Group, India’s biggest television network that includes the Zee channels. (Bloomberg)

Anousha Sakoui, P R Sanjai and Baiju Kalesh | Bloomberg
A consortium that includes U.S. cable giant Comcast Corp., James Murdoch’s Lupa Systems and Blackstone Group Inc. has made an offer for a stake in Zee Entertainment Enterprises Ltd., India’s largest private broadcaster, people familiar with the matter said.

The group plans to snap up a 51% stake, which has a market value of about Rs 19,000 crore ($2.77 billion), said one of the people, asking not to be identified as the discussions are private. The bid is non-binding, the people said.

A deal could be announced as soon as Wednesday and there could be more investors, another person said. Deliberations are

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First Published: Jul 30 2019 | 4:28 PM IST

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