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HomeShop18 completes merger with Shop CJ

Press Trust of India  |  New Delhi 

Network Ltd (HomeShop18) today said it has completed merger with Network (Shop CJ), creating the largest TV in

In September last year, Homeshop18 (a subsidiary of and Investments) and Network had said they will merge the businesses of both entities.

"...pursuant to the completion of the transaction, Network Ltd and cease to be subsidiaries of the company," and Investments today said in a BSE filing.

However, Network18 would continue to be the largest shareholder in the combined entity. Post the completion of the transaction, shareholders hold 25 per cent in the combined entity.

In a statement, HomeShop18 said the combination with Shop CJ would make it the largest TV in

"The resultant benefits of scale shall better the growth prospects for the combined entity, allowing it to improve its standing in the TV home-shopping landscape and compete better with the challenge from e-commerce players," HomeShop18 said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 15 2018. 23:15 IST