TT Epaper LHS
The Telegraph
TT Mobile
 
 
IN TODAY'S PAPER
WEEKLY FEATURES
CITY NEWSLINES
FEEDS
  RSS
  My Yahoo!
SEARCH
 
Archives Web
 
ARCHIVES
Since 1st March, 1999
 
THE TELEGRAPH
 
CIMA Gallary
 
Email This Page
Zee boss joins UNI board

New Delhi, Sept. 26: Zee group’s Subhash Chandra today joined the board of directors of United News of India with three associates.

But the board did not appear to ratify an earlier decision to transfer unissued UNI shares that his group wanted to acquire. That would have given it a huge majority stake in the company.

It was not immediately made known how much of the news agency’s stake the Essel Group — Zee’s parent company — now holds.

Although the reconstituted board promised that UNI’s “basic character” would remain unchanged, the employees’ union today continued to oppose the development. The employees’ “joint action committee” refused a management offer for talks and held a protest meeting. It said it would intensify the agitation.

Last evening, information and broadcasting minister Priya Ranjan Das Munshi had urged board chairman Manoj Sonthalia and Chandra to defer the meeting so that the employees’ concerns could be addressed. But the annual general meeting and the board meeting went ahead as scheduled.

A press release from Sonthalia said almost all shareholders — who include ABP — were present at the AGM. Also listed among the participants was Mediavest India Private Limited, through which Chandra’s Essel Group bought a stake in the company.

The board of directors now has four additions — Chandra and his associates Jawahar Goel, P.C. Lahiri and C.S. Vishwanathan.

Top
Email This Page
 
 
Biz2Credit Bizsense