MIB gives nod for Dish TV Videocon merger

Dish TV India has announced the receipt of the final approval needed in India for its merger with Videocon d2h

 

Following the amalgamation, the combined entity will be renamed as Dish TV Videocon.

 

According to a statement from Dish TV, the combined entity will serve more than 2.9 crore subscribers in India as per its combined share on 30 September 2017.

 

Jawahar Goel, CMD, Dish TV India, said, “It has been a long journey since the announcement of the agreement between the two companies a year back. We would like to thank the Ministry of Information and Broadcasting, the National Company Law Tribunal, the Competition Commission of India, the Securities and Exchange Board of India, the Stock Exchanges and all other stakeholders for showing their trust in us. I would also like to express our gratitude to our shareholders for standing by us through the transaction and believing in us to take the combined entity to the next level going forward.”

 

Anil Dua, Group CEO, Dish TV India, said, “Together, Dish TV and Videocon d2h are going to write history as we embark on this journey of delighting our ‘29 million and growing’ customer base. It is an exciting way ahead as we get this opportunity to leverage the individual strengths of the two organisations. I feel reassured looking at the formidable combination of these two talented teams that are now going to be working together towards a shared vision and common goals.”

 

Dish TV had engaged Aon, Deloitte and PwC as consultants to undertake project management for this take over. The companies had entered into this agreement in November 2016. The Scheme will become effective in coming weeks, upon the filing of the order of the National Company Law Tribunal approving the Scheme, by both Vd2h and Dish TV, with the Registrar of Companies, Maharashtra.