Padmalaya, Zee To Merge Animation Units

Zee Telefilms, having initiated steps to take management control of the Hyderabad-based Padmalaya Telefilms, proposes to combine the animation business of both the companies into a single entity.

Disclosing this in its public offer announcement to the share holders of Padmalaya, which proposes to acquire 21 lakh equity shares at Rs 148.50 a share, Zee said that the move will create one of the country