Star divests 6% Balaji stake

Asian Broadcasting FZ LLC, the holding company of Star Network, has sold 40,74,378 shares aggregating to 6.25% of the share capital of Balaji Telefilms.

According to a release issued by Balaji Telefilms, quoting merchant banker DSP Merrill Lynch, the date of sale is January 12, 2005.

"The shareholding of Asian Broadcasting FZ LLC after the said sale is 1,69,48,194 shares aggregating to 25.99% of the share capital of Balaji Telefilms," the release added.