Network18 sells 8 lakh shares to staff trust

Network18 Media and Investment (formerly known as Network18 Fincap) has sold 8.2 lakh equity shares of TV18 in a block deal at Rs 490 per share.

The shares, which were held as treasury stock by Network18, were transferred to an Employees'/Professionals' Trust.

The trust intends to use these shares as treasury stock for its own purpose.